The USDCHF achieves strong gains – Analysis - 05-03-2021

The USDCHF pair rallied upwards strongly to succeed achieving our waited target at 0.9295 and settles around it, noticing that the recent trades are confined within bullish pennant pattern that appears on the chart, which supports the chances of continuing the bullish trend for the upcoming period, as the next target reaches 0.9375.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that breaking 0.9260 will press on the price to achieve some bearish correction that might head to test 0.9220 areas before turning back to rise again.

The expected trading range for today is between 0.9250 support and 0.9350 resistance.

The expected trend for today: Bullish