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The USD/CHF pair has made an attempt to breach the 0.8670 level but is struggling to hold above it. Stochastic indicators show that the negative momentum is waning as it approaches oversold territory, suggesting that the price may soon find the strength to push higher. A successful breach of the 0.8670 level could lead the pair to rally towards the next target at 0.8780.
As such, our bullish outlook remains intact on an intraday basis. However, it’s important to note that if the price breaks below 0.8625, it could trigger a bearish reversal.
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The expected trading range for today is between the 0.8600 support and 0.8730 resistance levels.
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Trend Forecast: Bullish
