USDCHF breaches the resistance – Analysis - 13-04-2018

The USDCHF pair breached 0.9581 level clearly and settled above it, to approach 61.8% Fibonacci correction level at 0.9675, noticing that the EMA50 provides the positive support to the price, while stochastic shows clear overbought signals.

Therefore, this contradiction between the technical factors makes us prefer staying aside until we get clearer signal for the next trend, noting that breaching 0.9675 will extend the pair’s gains to reach 0.9790 on the near term basis, while breaking 0.9581 will put the price under the negative pressure again, to start the negative targets at 0.9488.

Expected trading range for today is between 0.9550 support and 0.9700 resistance.

Expected trend for today: Depends on the above mentioned levels