USDCHF falling resistance retest at 0.8856

USDCHF maintains a bearish sentiment, aligned with the prevailing downtrend. The recent price action suggests an oversold bounce, which may be temporary before the downtrend resumes.

Key Level: 0.8856
This level represents the previous consolidation zone and serves as a crucial resistance point.

Bearish Scenario: If the price faces rejection at 0.8856, it could resume its decline, targeting 0.8790, followed by 0.8770 and 0.8736 over the longer term.

Bullish Scenario: A confirmed breakout above 0.8856 with a daily close beyond this level would invalidate the bearish outlook, opening the way for rallies toward 0.8870 and 0.8890.

Conclusion:
USDCHF remains bearish unless it breaks above 0.8856. Traders should monitor this key level for either rejection or confirmation to determine the next move.


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