The USDCHF currency pair has shown a notable upward bounce, breaching the 0.8465 level and settling above it. This movement positions the pair for a potential test of the key resistance level at 0.8543. However, the stochastic indicator is signaling significant overbought conditions, suggesting a likelihood of a bearish reversal as the market may resume its downward trend, targeting the next level at 0.8332.
Consequently, we anticipate the overall bearish trend to persist unless the price breaks above 0.8543 and maintains stability beyond that threshold.
Today’s expected trading range is between 0.8430 support and 0.8550 resistance.
Trend Forecast: Overall Bearish
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