USDCHF Price Analysis
Expected Scenario
The USDCHF price faced negative pressure yesterday to reach the key support at 0.8885$.
The price rebounded bullishly from this level and is heading towards a potential test of the resistance at 0.9014$.
The price is currently moving within a sideways track between these levels, suggesting a domination of sideways movement in the intraday trades.
We anticipate the price to remain in this sideways range until it manages to surpass either the support or resistance levels to indicate the next main trend direction clearly.
Breaking below the support at 0.8885$ could push the price towards additional bearish correction, targeting the next support at 0.8780$.
On the other hand, breaking above the resistance at 0.9014$ would be a positive signal, potentially leading the price back into the main bullish track with targets at 0.9135$ and extending to 0.9224$.
Expected Trading Range
Between 0.8870$ support and 0.9030$ resistance.
Trend Forecast: Sideways
Origin: Economies
