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Yesterday, the USD/CHF pair saw a decline, nearing the anticipated level of 0.8885. Despite some bullish indicators from stochastic momentum, the EMA50 continues to exert downward pressure, signaling a potential continuation of the corrective bearish trend towards 0.8780 following a breach of prior support levels.
The bearish outlook remains intact unless there is a significant rally above 0.9014, with a sustained hold above this level potentially altering the current trend dynamics.
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Today’s expected trading range is projected between support at 0.8890 and resistance at 0.9014.
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Trend Forecast: Bearish
