The USD / CHF pair traded with remarkable negativity yesterday to test the support of the main ascending channel that is currently in the form of 0.9925, accompanied by the emergence of a positive cross signal through Stochastic now, which is a positive incentive waiting to help push the pair higher again.
From here, we expect the pair to resume its main ascending course in the coming sessions. The main targets start with breaching 1.0005 to confirm the opening of the way toward 1.0165 in the near term, noting that breaking 0.9925 will press the price to start a short term bearish correction.
---------- Post added at 11:10 PM ---------- Previous post was at 03:11 AM ----------
The USD / CHF pair rebounded upwards after testing the support of the main ascending channel, approaching the moving SMA 50 which is instantaneous resistance at 0.9970, as the price needs to breach this level to release from the negative pressure and facilitate the continuation of the main bullish trend.
Therefore, we continue to favor the bullish trend over the coming period provided that the daily closing is above 0.9930, noting that the main targets are expected to start at 1.0005 and extend to 1.0165 after breaching the previous level.
The trading range for today is among the key support at 0.9930 and resistance at 1.0010
The general trend for today is bullish
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