USD CHF rallies sharply 10/05/2013

Economies.com
2013-05-10 05:44AM UTC

The pair rallied sharply to the upside surpassing 0.9400 level and stops at the resistance line that appears in the image at 0.9500, accompanied with stochastic entering the overbought levels, which offers chances for a downside bounce from the current levels, but we need to stop aside temporarily to be sure of the price behavior according to 0.9500 resistance and 0.9400 support, as a breach to the mentioned resistance will open the way for more positive actions that might reach to 0.9800, while breaking the support will bring back the negative scenario.

 

Expected trading range for today is between: 0.9370 support and 0.9600 resistance.

 

Expected trend for today: Neutral

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