The USDCHF recovers – Analysis 05-02-2024

rub-l11The USDCHF pair rallied upwards strongly to breach 0.8605 and head towards regaining the bullish track again, on its way to achieve gains that start by visiting 0.8800 barrier, noting that stochastic current negativity might cause some temporary sideways fluctuation before resuming the positive trades again.

Moving above the EMA50 supports the continuation of the suggested bullish wave, which will remain valid condition by the price stability above 0.8605.

The expected trading range for today is between 0.8610 support and 0.8760 resistance.

The expected trend for today: Bullish

Origin: Economies

 

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