The USDCHF currency pair demonstrated a robust upward rally, surging past the 0.9066 level and closing above it. This development has effectively halted the correctional bearish scenario, and the pair is now poised to continue its primary bullish trend. The path ahead suggests potential gains, with an initial target at 0.9165, followed by an extended target of 0.9225.
It’s worth noting that the current negative momentum in the Stochastic indicator may lead to temporary sideways price fluctuations before the expected upward movement resumes. However, this bullish outlook remains contingent on the price maintaining its stability above the 0.9066 level.
The anticipated trading range for today is expected to be situated between support at 0.9000 and resistance at 0.9150. The overall trend expectation is bullish.