The USDCHF currency pair commenced today’s trading session on a distinctly positive note, distancing itself from the 0.8825 support level. This development serves to underscore expectations of an ongoing bullish trend in the sessions ahead. Furthermore, the path is now open to pursue our initial target at 0.8890, with the caveat that surpassing this level would clear the way for an advance towards the subsequent key station at 0.8995.
Consequently, our outlook maintains a stance in favor of the bullish trend for both intraday and short-term horizons, contingent on the price maintaining its stability above the support levels at 0.8825 and 0.8775.
For today’s trading activities, the anticipated range spans from the support level at 0.8800 to the resistance level at 0.8935.
In summation, the USDCHF currency pair has reinvigorated its bullish momentum, signifying a departure from the 0.8825 support level. This resurgence reinforces the anticipation of a sustained bullish trend, with 0.8890 as the initial target, and potential further gains towards 0.8995, provided that the pair remains above the pivotal support levels at 0.8825 and 0.8775.