USDCHF touches the target – Analysis - 02-03-2018

The USDCHF pair succeeded to touch our main waited target at 0.9488 and bounced downwards clearly from there, to approach testing the key support base formed above 0.9373, noticing that the EMA50 provides the positive support to the price, while stochastic gets rid of its negative momentum to move inside the oversold areas now.

Therefore, we believe that the chances are valid to resume the correctional bullish bias in the upcoming sessions, and breaching 0.9488 will confirm opening the way to head towards 0.9581 as a next station, while breaking 0.9373 will put the price within the main bearish track again.

Expected trading range for today is between 0.9300 support and 0.9488 resistance.

Expected trend for today: Bullish