USDCHF tests the support – Analysis - 29-12-2016
Economies.com
2016-12-29 04:56AM UTC
The USDCHF pair bounced bearishly after approaching from 1.0326 level yesterday, to test the bullish trend line that appears on chart, noticing that the recent trades are confined inside sideways range that appears on chart.
The EMA50 continues to provide the positive support to the price, while stochastic reaches the oversold areas now, therefore, these factors encourage us to keep our bullish overview on the intraday and short term basis, waiting to breach 1.0326 level to open the way to head towards 1.0450, while the expected rise will remain valid unless breaking 1.0220 level and holding below it.
Expected trading range for today is between 1.0200 support and 1.0326 resistance.
Expected trend for today: Bullish
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