USDCHF retests – Analysis - 11-04-2017

The USDCHF pair retested the support base that formed above 1.0070 level after breaching it previously and kept its stability above it, accompanied by stochastic reach to the oversold levels, noticing that the EMA50 continues supporting the price from below, keeping the price move within the bullish channel that appears in the above chart.

Therefore, we believe that the chances available for resuming the bullish trend in the upcoming sessions, and the waited targets begin at 1.0133 and extend to 1.0209, being aware that breaking 1.0070 then 1.0010 levels will stop the expected rise and puts the price under negative pressure again.

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

Expected trend for today: Bullish