USDCHF awaits the confirmation – Analysis - 24-11-2017

The USDCHF pair shows some slight bullish bias after testing 0.9800 level, affected by stochastic positivity that appeared on the four hours' time frame, while the price still inside the correctional bearish channel that appears on the chart, falling under the negative pressure formed by the EMA50.

Therefore, this contradiction between the technical factors makes us continue with our neutrality until the price confirms its next destination through breaching one of the key levels represented by 0.9800 support and 0.9892 resistance, reminding you that breaking this support will extend the bearish correction to reach 0.9730 direct, while breaching the resistance will stop the correctional bearish trend scenario and push the price to achieve gains that start at 1.0000 followed by 1.0038.

Expected trading range for today is between 0.9730 support and 0.9892 resistance.

Expected trend for today: Depends on the above mentioned levels