The USDCHF pair has entered a negative trajectory, exerting notable pressure on the pivotal support level at 0.8825. This persistent movement signifies a potential halt to the ongoing bullish correction, hinting at a prospective shift towards rejoining the primary bearish course.
Under these circumstances, exercising caution and adopting a wait-and-see approach is advised until the price secures its stance vis-Ã -vis the aforementioned level. A breach of this level holds significance as a crucial negative signal that could propel the price towards an initial decline targeting 0.8775. Conversely, if the price sustains consolidation above this level, it would signal the potential for a resurgence of the bullish momentum, with the ensuing target situated at 0.8890.
Today’s projected trading spectrum spans between the support level at 0.8760 and the resistance at 0.8900.
The prevailing trend for today is perceived as neutral, given the pivotal juncture the pair currently navigates.