The USDCHF price under the negative pressure – Forecast today - 05-04-2024
Economies.com
2024-04-05 01:39AM UTC
USDCHF Pair Analysis
Expected Scenario
- The USDCHF pair faces additional negative pressure to break the 0.9020 level and attempts to hold below it.
- This may push the price to continue declining and test the bullish channel’s support line around 0.8960 before turning back to rise again.
- The overall positive scenario remains valid as long as the price is above the mentioned support.
- Breaking the support will push the price to start a bearish correction on the intraday basis.
- The price needs to surpass 0.9030 to reinforce the chances of resuming the bullish trend, with its next main target located at 0.9200.
Expected Trading Range
- Between 0.8960 support and 0.9100 resistance.
Trend Forecast: Overall Bullish
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