The USDCHF pair rallied upwards strongly yesterday to surpass the first target at 0.8800 and reach the second waited target at 0.8865, noticing that the price attempts to confirm breaching the bearish channel’s resistance that appears on the chart, affected by the previously completed inverted head and shoulders’ pattern, to suggest the continuation of the bullish trend domination and head to achieve new gains that reach 0.9000 barrier.
Therefore, we are waiting for more expected rise in the upcoming sessions, taking into consideration that breaking 0.8850 will put the price under negative pressure to head towards testing 0.8740 areas initially before any new positive attempt.
The expected trading range for today is between 0.8800 support and 0.8940 resistance.
The expected trend for today: Bullish
Origin: Economies
