USD CHF leans on the moving average – Analysis - 31/08/2015

The USDCHF pair fluctuates around 0.9615 level, while the EMA50 forms good intraday support base that supports the continuation of the bullish bias for the upcoming period, as we notice that stochastic gets rid of its negativity and gain positive momentum on the four hours’ time frame, which supports the chances of resuming the bullish trend that its next target located at 0.9725 and extend to 0.9900.

Note that breaking 0.9570 followed by 0.9525 levels will turn the price back to the bearish correctional track and stop the current bullish wave.

Expected trading range for today is between 0.9500 support and 0.9725 resistance.

Expected trend for today: Bullish