USDCHF heads towards the initial resistance – Analysis - 09/03/2016

The USDCHF trading bounced bullishly after testing 0.9900 level yesterday, and that make the price approach from the critical resistance at 1.000, waiting for breaching this level to confirm the continuation of the positive scenario on the short- term basis, which will open the way towards visiting 1.0130 level directly.

In general, the bullish trend scenario will remain valid and active in the upcoming period conditioned by holding above 0.9800 level, where breaking this level will push the price to visit levels that begin at 0.9676 and might extend to 0.9474 after breaking the previous level.

Expected trading range for today is between 0.9900 support and 1.0100 resistance.

Expected trend for today: Bullish