The USD/CHF pair has established itself above the 0.8825 level. However, it has shown some initial bearish tendencies at today’s opening, influenced by stochastic indicators displaying a negative sentiment. Investors are now looking for a catalyst to encourage a resumption of the bullish trend, which is targeting the 0.8890 level as its next milestone.
It’s crucial to note that a successful breach of the 0.8890 level will extend the bullish momentum over the long term, with a goal of reaching the 0.8995 region.
To maintain our bullish perspective, it is imperative for the price to remain stable above the 0.8825 level, particularly above 0.8775.
Today’s projected trading range is expected to fluctuate between support at 0.8780 and resistance at 0.8920, with a prevailing bullish sentiment.