The USDCHF reaches the resistance – Analysis - 08-11-2019
The USDCHF pair provided positive trades yesterday to reach the thresholds of the sideways range resistance at 0.9990, accompanied by stochastic reach to the overbought areas, to support the chances of a potential bearish rebound to visit the mentioned range’s support line at 0.9836 in the upcoming sessions.
Therefore, the sideways range will remain dominant on the intraday trades until breaching one of the above mentioned levels, reminding you that breaching the resistance will push the price to achieve additional gains that reach 1.0070, while breaking the support will put the price under negative pressure that its next target reaches 0.9712.
The expected trading range for today is between 0.9880 support and 1.0000 resistance.
The expected trend for today: Sideways
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