The USDCHF currency pair has displayed a robust rebound, surmounting the critical level at 0.8968 and maintaining a position above it. This price action has effectively halted the correctional bearish scenario, setting the stage for an upward trajectory and the formation of a bullish wave with initial targets located around the 0.9066 regions.
Consequently, we anticipate a continuation of the bullish bias in the forthcoming trading sessions, underpinned by the fact that the price is trading above the EMA50. However, it is essential for the pair to sustain levels above 0.8968 to ensure the ongoing upward momentum.
For today’s trading activities, the expected range encompasses support at 0.8920 and resistance at 0.9060, with the prevailing trend outlook for the day being bullish, given the successful breach of the resistance level at 0.8968.