The USD/CHF pair is showing signs of recovery, approaching a potential test of the key resistance at 0.8543. However, the Stochastic indicator indicates a loss of positive momentum, which may hinder the ability of the price to sustain this upward movement and could lead to a resumption of the bearish trend, targeting 0.8332.
It’s important to note that if the price continues to rise and breaches the 0.8543 level, it would invalidate the expected bearish trend, prompting a shift toward bullish movement.
The expected trading range for today is between 0.8440 support and 0.8580 resistance.
Trend Forecast: Bearish
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