We are still short on the US Dollar
USD/CHF
The USDCHF pair showed positive trading yesterday to test the EMA50, which continues to form strong resistance barrier against the price positive attempts, which keeps the bearish trend scenario valid until now, reinforced by stochastic reach to the overbought areas thresholds now.
The price needs to break 0.9525 followed by 0.9474 levels to confirm opening the way to head towards 0.9243 that represents the next main target of the current bearish wave, taking into consideration that breaching 0.9580 followed by 0.9676 levels will turn the intraday and short term track to the upside.
Expected trading range for today is between 0.9450 support and 0.9620 resistance.
Expected trend for today: Bearish
NZD/USD
The NZDUSD pair rallied bullishly yesterday after it kept its stability above 0.6860 level, as it gets strong positive motive offered by stochastic, reinforcing the expectations of more rise in the upcoming period, waiting to test 0.7040 level as a next main station.
Therefore, we believe that the chances are valid to achieve more gains on the intraday and short term basis, to extend the positive targets towards 0.7330, while the price needs to hold above 0.6860 level to keep the chances of continuing the suggested positive expectations.
Expected trading range for today is between 0.6860 support and 0.7070
Expected trend for today: Bullish
AUD/USD
The AUDUSD pair traded with clear positivity yesterday to begin testing 0.7700 barrier now, approaching from our first main target at 0.7760, waiting to breach this level to open the way to visit the main bearish channel’s resistance at 0.8010.
Stochastic and the EMA50 continue to offer the positive signals that support the expected rise, which its continuation conditions holding above 0.7515 and 0.7415 levels.
Expected trading range for today is between 0.7600 support and 0.7800
Expected trend for today: Bullish