USDCHF breaches the resistance – Analysis - 05-09-2018
Economies.com
2018-09-05 04:32AM UTC
The USDCHF pair breached 0.9723 level yesterday, but it faced good resistance formed by the previously broken support of the bearish channel that appears on the chart, as the EMA50 met this resistance to add more strength to it, pushing the price to decline again.
Therefore, we believe that the chances are valid to resume the correctional bearish trend, noting that breaking 0.9723 will push the price towards 0.9620 as a next main target, while breaching 0.9765 represents positive factor that will push the price to test 0.9850 before detecting the destination clearly.
Expected trading range for today is between 0.9650 support and 0.9780 resistance.
Expected trend for today: Bearish
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