The USDCHF currency pair underwent a pronounced decline in recent trading, precipitated by its breach of the 0.8825 level. This led to a direct descent to the 0.8775 juncture. It is worth noting that the price has coalesced above this support level. Notably, corroborating this stance are discernible positive indications from the stochastic oscillator. These favorable signals serve as an impetus to infer the commencement of an intraday bullish phase, with an initial objective of testing the 0.8825 level. It is pertinent to highlight that surpassing this barrier could propel the price towards the subsequent key level at 0.8890.
Thus, the prevailing sentiment leans towards a bullish bias for the day, unless the 0.8775 level is breached and maintained below.
Today’s projected trading range oscillates between the support at 0.8730 and the resistance at 0.8860.
The anticipated trend for today is characterized as bullish.