In recent trading sessions, the USDCHF pair experienced a temporary downward pressure, reflecting a bearish rebound that tested the critical $0.9000 mark. This movement coincided with stochastic indicators entering oversold territories. Notably, the Exponential Moving Average (EMA) 50 has persisted in providing underlying support from lower levels.
Despite this short-term bearish correction, our analysis maintains a bullish outlook for the foreseeable future, unless the crucial support level at $0.9000 is breached convincingly and sustained below it. Our forecast suggests a potential uptrend, with anticipated price targets at $0.9105, followed by $0.9150, serving as significant resistance levels.
For today’s trading session, the expected trading range is as follows:
– Support: $0.8960
– Resistance: $0.9100
In summary, our trend forecast remains bullish, reflecting our expectation of a potential upward trajectory in the USDCHF pair.