USDCHF Price Analysis
Expected Scenario
The USDCHF price bounced upwards clearly after consolidating above 0.8885, hinting at an attempt to stop the bearish correction and regain the main bullish trend again.
However, the EMA50 forms negative pressure against the price, and stochastic indicates a loss in positive momentum, with clear overbought signals.
The contradiction between the technical factors makes it preferable to stay aside until a clearer signal for the next trend emerges.
Continuation of the rise and breaching 0.9014 will lead the price to resume the main bullish track and achieve positive targets, starting at 0.9140 and extending to 0.9224.
Breaking 0.8945 represents the key to a return to decline and testing 0.8884 initially, with a further decline towards 0.8778 as the next correctional target.
Expected Trading Range
Between 0.8900 support and 0.9050 resistance.
Trend Forecast: Neutral
Origin: Economies
