The USDCHF pair found solid support at 1.0075, which represents 23.6% Fibonacci correction level for the rise measured from 0.9710 to the recently recorded top at 1.0190, which pushes the price to rise again targeting testing the mentioned top, moving inside the sideways track that its signs appear on chart.
On the other hand, we notice that there is a contradiction between stochastic negativity and the positive support provided by the EMA50, which makes us prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 1.0075 support and 1.0190 resistance, as the price needs to breach one of these levels to detect its next destination clearly, noting that breaking the mentioned support will activate the correctional bearish scenario that its targets begin at 1.0005 and extend to 0.9950, while breaching 1.0190 will lead the price to resume the main bullish trend that its next target located at 1.0326.
Expected trading range for today is between 1.0050 support and 1.0230 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
