USDCHF faces solid resistance – Analysis - 04-10-2017

The USDCHF pair found difficulty to confirm breaching 0.9700 level, to rebound bearishly and settles near 0.9700, noticing that the EMA50 provides good positive support to the price, accompanied by stochastic reach to the oversold areas.

Therefore, we believe that the chances are valid to rebound bullishly and resume the bullish trend in the upcoming sessions, reminding you that breaching 0.9770 will complete forming double bottom pattern that has positive targets that start at 0.9900 and extend to 1.0030, while holding above 0.9685 represents key condition to continue the expected rise.

Expected trading range for today is between 0.9685 support and 0.9800 resistance.

Expected trend for today: Bullish