USDCHF tests the support – Analysis - 02-11-2018

The USDCHF price traded with strong negativity yesterday to press on the bullish channel’s support line that appears on the chart, but we notie that the EMA50 forms good support to protect the positive scenario suggested in our recent reports, accompanied by witnessing clear positive signals through stochastic.

Therefore, these factors encourage us to suggest bullish rebound in the upcoming sessions, waiting to breach 1.0055 level to open the way to achieve our positive targets that start at 1.0105 followed by 1.0170 levels, noting that it is important to hold above 1.0000 to continue the expected rise.

Expected trading range for today is between 0.9950 support and 1.0100 resistance.

Expected trend for today: Bullish