The USDCHF awaits more rise – Analysis 05-01-2024

chf_forexThe USDCHF pair’s recent trades are confined within bullish pennant pattern as appears on the chart, thus, we believe that the chances valid to resume the positive trades in the upcoming sessions, waiting to rally towards 0.8700 that represents our next main target.

Holding above 0.6450 is important to continue the expected rise, as breaking it represents negative factor that will force the price to return to the main bearish trend again.

The expected trading range for today is between 0.8430 support and 0.8600 resistance.

The expected trend for today: Bullish

Origin: Economies

 

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