Wheat price bounced bearishly after testing the EMA50 in the previous sessions, to support the continuation of the expected bearish trend on the intraday and short-term basis, reminding you that our next main target extends to 519.10$.

Holding below 554.20$ represents initial condition to the continuation of the expected decline, as breaching it will push the price to test the key resistance 568.50$ before any new attempt to decline.

The expected trading range for today is between 535.00$ support and 555.00$ resistance.

Trend forecast: Bearish

Sugar price provided positive trades yesterday to approach the EMA50, waiting for more rise to test the bearish channel’s resistance line around 21.30$, and it might extend to visit 21.55$ before turning back to resume the main bearish trend again.

Therefore, the intraday bearish trend will remain suggested for the upcoming period, noting that breaking 20.08$ will stop the bullish trend and push the price to decline again.

The expected trading range for today is between 20.40$ support and 21.10$ resistance

Trend forecast: Bullish

The USDCHF price leaned on the EMA50 and bounced bullishly to test 0.8883 level, noticing that stochastic overlaps positively to support the chances of breaching this level and open the way to continue the bullish trend for the upcoming period, noting that the next targets start at 0.8950 and extend to 0.9014.

Holding above 0.8840 is important to the continuation of the expected rise, as breaking it will push the price to test the key support 0.8778 before any new positive attempt.

The expected trading range for today is between 0.8830 support and 0.8950 resistance.

Trend forecast: Bullish

The NZDUSD price trades with clear negativity now to surpass our first waited target at 0.5850$ and open the way to continue the decline on the intraday basis, waiting to test 0.5790$ that represents our next main target, noting that breaking this level will h the price to achieve more decline on the intraday and short-term basis.

Moving below the EMA50 supports the suggested negative scenario, which will remain valid unless the price rallied to breach 0.5935$ and hold above it.

The expected trading range for today is between 0.5775 support and 0.5880$ resistance

Trend forecast: Bearish