USD/CHF prediction based on recent price action

*Based on recent price action, the USD/CHF prediction indicates potential upward movement.

The USD/CHF price recently peaked at 0.8640, marking the highest level for October. The daily candle opened at 0.8580 and exhibited bullish momentum, closing at 0.8640. Today, the price has pulled back slightly, dropping to 0.8605.

In the hourly timeframe, the current price remains above 50 EMA, which provides short-term support for an upward trend. The immediate resistance levels are at 0.8670 and 0.8710, while the active support levels are at 0.8590 and 0.8550.

USD/CHF prediction: As long as the support at 0.8590 remains intact, there is a potential for the price to move upward toward the 0.8670 level. If the price can establish stability at 0.8670, the next target could be 0.8710. However, it’s important to note that the price may test the 0.8590 level before any upward movement occurs.