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USDCHF Price Forecast Update – 09-07-2024

by Jennifer

USDCHF Price Analysis

Expected Scenario

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The USDCHF price is currently trading positively, aiming towards a potential test of the key resistance level at 0.9014. It’s notable that stochastic indicators have lost their positive momentum and are showing clear overbought signals. This situation is expected to prompt the price to resume a correctional bearish trend, targeting 0.8885 as the next level of interest. The critical condition for the continuation of this expected decline is holding below 0.9014. However, a breach above this level would signal a potential recovery and a resumption of the main bullish trend.

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Expected Trading Range

  • Support: 0.8900
  • Resistance: 0.9040

Trend Forecast: Bearish

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