USDCHF awaits the breach – Analysis - 05-10-2017

The USDCHF pair resumes its positive trading after leaning on the EM50 that forms good support for the intraday trading, to approach from testing the key resistance at 0.9770, which represents the neckline of the double bottom pattern that appears on chart, waiting to confirm breaching this level to get positive motive that reinforces our expectations of continuing the bullish trend on the intraday and short term basis.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, which its next targets located at 0.9900 followed by 1.0030, reminding you that it is important to hold above 0.9685 to achieve the suggested targets.

Expected trading range for today is between 0.9685 support and 0.9830 resistance.

Expected trend for today: Bullish