The USD/CHF currency pair remains confined within a sideways trading range, as depicted on the chart. It is currently awaiting a bullish catalyst to propel prices higher and resume the anticipated bullish trend in the short-term and intraday. It’s worth noting that our next target is situated at the 0.8995 level.
The presence of the EMA50 serves as additional support for the envisioned bullish wave, which will maintain its validity as long as the pair does not breach the 0.8890 level and manage to hold below it.
For today, we anticipate the USD/CHF pair to trade within a range defined by the support level at 0.8870 and the resistance level at 0.8990, with an overall bullish trend expected to persist.