USDCHF faces solid resistance – Analysis - 04-08-2017
Economies.com
2017-08-04 04:00AM UTC
The USDCHF pair found difficulty to confirm breaching 0.9700 level, showing some bearish bias to approach from testing the key support base 0.9645, noticing that the EMA50 meets this support to add more strength to it, while stochastic reaches the oversold areas' thresholds.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, waiting to visit 0.9812 followed by 0.9864 levels mainly, noting that breaking 0.9645 will stop the suggested rise and push the price to return to the main bearish trend again.
Expected trading range for today is between 0.9600 support and 0.9770 resistance.
Expected trend for today: Bullish
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