USDCHF breaches key resistance – Analysis - 10-04-2017

The USDCHF pair resumed its bullish rally strongly to approach from our next waited target at 1.0132, noticing that the price managed to breach the resistance line that appears on the above chart, which supports the continuation of the bullish trend scenario efficiently in the upcoming period, organized inside the bullish channel that carries the price from 0.9812 areas.

Therefore, we are waiting for more rise on the intraday and short term basis, noting that breaching the targeted level will extend the bullish wave towards 1.0209, while the expected rise will remain valid conditioned by holding above 1.0010.

Expected trading range for today is between 1.0050 support and 1.0175 resistance.

Expected trend for today: Bullish