The USD/CHF currency pair has displayed a mild bearish bias at today’s open, possibly heading towards a potential test of the critical support level at 0.8890. It’s important to note that as long as the price remains above this level, the bullish outlook will remain intact. The anticipated target for the pair’s upward movement is set at 0.8995.
However, it’s crucial to keep in mind that a breach of the 0.8890 support could halt the suggested upward trajectory, leading to a reversal in price direction. In this scenario, the pair may shift its focus towards the initial support level at 0.8825.
For today, traders should consider a trading range with support at 0.8850 and resistance at 0.8990.
In summary, the expected trend for today remains bullish for USD/CHF, contingent upon maintaining support at 0.8890 and the possibility of reaching the next main target at 0.8995.