USDCHF attempts to recover – Analysis - 08-11-2018

The USDCHF price attempted to break the key support 0.9970 but it could not manage to hold below it, to rebound downwards clearly and approach 1.0055 resistance, and as we mentioned yesterday, these levels represent the next trend keys, and the price needs to breach one of them to detect its next destination clearly.

Therefore, we will continue with our neutrality until we get clearer signal for the next trend, reminding you that breaking the mentioned support will press the price to head towards 0.9850 mainly, while breaching the resistance will lead the price to resume the short term bullish trend, which targets 1.0105 followed by 1.0170 levels as next main stations.

Expected trading range for today is between 0.9950 support and 1.0090 resistance.

Expected trend for today: Depends on the above mentioned levels