USDCHF touches the target – Analysis - 16-07-2018

The USDCHF pair succeeded to achieve our main waited target at 1.0055 and shows some slight bearish bias from there, to test 1.0000 barrier now, noticing that stochastic gains the positive momentum clearly, as it moves at the oversold areas now, forming positive motive that we are waiting to push the price to rise again.

Therefore, the bullish trend will remain expected on the intraday and short term basis conditioned by the price stability above 0.9935, noting that breaching 1.0055 will extend the pair’s gains to reach 1.0170 as a next main station.

Expected trading range for today is between 0.9970 support and 1.0100 resistance.

Expected trend for today: Bullish