USDCHF recovers – Analysis - 09-01-2017

The USDCHF pair achieved clear breach to 1.0128 level and settled above it, and its begins today with more positivity approaching from the critical resistance at 1.0210, as we mentioned in our last report, breaching this level will push the price to resume its main bullish track that its next target located at 1.0326.

The last breach of the minor bearish channel that appears in the image encourages us to keep preferring the continuation of the bullish bias in the upcoming sessions, therefore, the bullish trend will be preferred for today unless breaking 1.0128 level and holding below it, where breaking this level represents negative factor that will push the trading to achieve more of the bearish correction then heading towards 0.9996 as a next main station.

Expected trading range for today is between 1.0128 support and 1.0260 resistance.

Expected trend for today: Bullish