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USD/CHF Price Breaks Support – Forecast for July 5, 2024

by Jennifer

USD/CHF Price Analysis

Expected Scenario

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The USD/CHF pair failed to trade above the $0.9014 level again, breaking below $0.8990 and moving towards a new bearish correction on an intraday basis. The next main target is the $0.8885 area.

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Supporting Factors

A bearish bias is suggested for today, supported by the price moving below the EMA50 (Exponential Moving Average). However, breaching the $0.9014 level would halt the current negative pressure and potentially lead to a price recovery.

Expected Trading Range

Today’s anticipated trading range for USD/CHF is between the $0.8900 support level and the $0.9050 resistance level.

Trend Forecast

The trend forecast for USD/CHF is bearish.

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