The USDCHF pair faced strong negative pressure yesterday to break 0.8968 and reach 0.8888 direct, noticing that the price presses on this level in attempt to break it, and by taking a deeper look at the chart, we find that the price forms double top pattern that its confirmation line located at 0.8888, which means that breaking this level will provide strong negative motive that pushes the price towards 0.8810 followed by 0.8710 levels as next negative stations.
The EMA50 forms negative pressure against the price to support the continuation of the expected bearish trend, which will remain valid unless the price rallied to breach 0.8968 and hold above it.
The expected trading range for today is between 0.8880 support and 0.8950 resistance.
The expected trend for today: Bearish
The NZDUSD pair breached 0.5900 level strongly and rallied upwards to breach 0.6020 direct, starting today with more rise to attempt to breach this level and pave the way to achieve additional gains in the upcoming sessions, noting that the next positive station reaches 0.6090.
Therefore, the bullish bias will be expected for today, supported by the EMA50 that carries the price from below, noting that the consolidation of 0.6020 level against the current rally will push the price to rebound bearishly and head towards 0.5900 again.
The expected trading range for today is between 0.5980 support and 0.6080 resistance
The expected trend for today: Bullish
The AUDUSD pair rallied upwards strongly to breach 0.6400 level and open the way to achieve additional gains on the intraday basis, approaching 0.6545 level that represents key resistance against the price, noting that breaching this level will push the price to achieve additional positive targets that extend to 0.6660.
Therefore, we suggest witnessing more rise in the upcoming sessions, taking into consideration that failing to breach 0.6545 will push the price to decline again, to head towards testing 0.6400 initially.
The expected trading range for today is between 0.6450 support and 0.6560 resistance
The expected trend for today: Bullish
Brent oil price touched our first waited target at 83.87 and found solid resistance there, to show some slight bearish bias, affected by stochastic negativity that gathers the positive momentum clearly, waiting to motivate the price to resume the expected bullish trend for the upcoming period, noting that surpassing the mentioned level will extend the bullish wave to reach 85.35.
On the other hand, we should note that breaking 82.70 will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 82.00 support and 85.00 resistance.
The expected trend for today: Bullish