The USD/CHF currency pair has achieved the latest target of 0.8455. Following this, the price has rebounded upwards, approaching the 0.8545 level, signaling an attempt to counteract the negative pressure and potentially recover on an intraday basis. However, the stochastic indicator is showing a loss of positive momentum, creating additional bearish pressure.
Given the current technical contradictions, it is advisable to adopt a cautious stance until the price confirms its direction relative to the 0.8455 level. A confirmed breach below this level could lead the price to further gains, potentially testing the 0.8670 area. Conversely, if the price consolidates below 0.8455, it may resume its bearish trend, targeting the 0.8335 level in the near term.
Expected Trading Range for Today:
Support: 0.8460
Resistance: 0.8620
Trend Forecast: Bearish
