The USDCHF pair continued its strong positive rally to breach 1.0010 and head towards the next key resistance at 1.0072, as it found solid barrier there that stopped the bullish rally, to show some slight bearish bias, affected by stochastic negativity.
The breach of the bearish trend resistance hints that the price is attempting to regain its main bullish track, but it needs to breach 1.0133 to confirm the continuation of rising on the longer term basis, therefore, we prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 1.0133 resistance and 1.0010 support, noting that breaching this resistance will extend the pair’s gains to reach 1.0209 followed by 1.0332, while breaking the support will push the price back to the main bearish trend that its next main target located at 0.9812.
Expected trading range for today is between 1.0000 support and 1.0133 resistance.
Expected trend for today: Depends on the above mentioned levels
Origin: Economies
