The USDCHF pair exhibits resilience as it holds its position above the support line of the bullish channel, receiving favorable reinforcement from the EMA50. This sustains the viability of the bullish trend scenario, with our projected target set at 0.9000.
Stochastic indicators signal a gathering positive momentum, further enhancing the outlook for continued ascent. It’s noteworthy that a breach of the 0.8815 mark would invalidate the bullish trend, potentially triggering a downward trajectory.
For today’s trading outlook, the expected range oscillates between the support level at 0.8780 and the resistance at 0.8910.
Trend Forecast: Bullish