Midday update for USDCHF 29-12-2016

The USDCHF pair pushes negatively on the bullish trend line that appears on the above chart and close the last four hours' candlestick below it, which hints that the price is attempting to achieve some bearish correction on the intraday basis, which makes us prefer staying aside temporarily until the price confirms its next destination clearly, through breaching one of the next trend keys represented by 1.0220 support and 1.0245 resistance.

Note that breaking the mentioned support will confirm the continuation of the negative pressure followed by heading towards 1.0128 as a next main station, while breaching 1.0245 will motivate the price to resume its main bullish track that its main targets begin at 1.0326 and extend to 1.0450.

Expected trading range for today is between 1.0200 support and 1.0326 resistance.

Expected trend for today: Neutral