USDCHF breaches the resistance – Analysis - 21-02-2018

The USDCHF pair achieved clear breach to the bearish channel’s resistance and settled above it, which pushes the price to continue rising in the upcoming period, targeting testing 0.9424 level initially.

Therefore, we expect witnessing more rise on the intraday basis unless breaking 0.9315 level and settling below it, noting that breaching the targeted level will extend the bearish wave to reach 0.9530 as a next station.

Expected trading range for today is between 0.9300 support and 0.9440 resistance.

Expected trend for today: Bullish