USDCHF touches the first target – Analysis - 08-03-2017

The USDCHF pair rallied to the upside to hit our first target at 1.0157 without breaching it, and its begins today with a bullish bias after gaining the positive momentum on the four hours’ time frame, which supports the chances for the continuation of the bullish trend in the upcoming period, waiting for breaching the mentioned level to open the way towards 1.0228 as a next main station.

Therefore, the bullish bias will remain preferred for today supported by the EMA50, unless witnessing clear break and stability below 1.0043 level, which will push the price to stop the current bullish wave then regaining the short term bearish track.

Expected trading range for today is between 1.0070 support and 1.0200 resistance.

Expected trend for today: Bullish