USDCHF inside positive pattern – Analysis - 12-04-2017

The USDCHF pair provided some negative trading yesterday to move below the bullish channel's support, but the first key support 1.0070 managed to stop the recent negative pressure, noticing that this decline is confined inside a minor bearish channel that we believe it forms bullish flag pattern, which means that breaching its resistance at 1.0080 will motivate the price to rise and regain the bullish track again.

Therefore, we will continue to suggest the overall bullish trend, which its main targets begin at 1.0133 and extend to 1.0209, reminding you that holding above 1.0070 and 1.0010 levels is important to continue the suggested bullish wave.

Expected trading range for today is between 1.0050 support and 1.0175 resistance.

Expected trend for today: Bullish