The market has adhered closely to my previous idea, as the price encountered strong resistance and failed to breach it on two separate occasions.

This resulted in the formation of lower lows in the price action.

The overall trend of the market on higher timeframes indicates a bearish sentiment.

Currently, the price action is confined within an ascending channel, which can be viewed as a pullback.

I anticipate a potential breakout of the channel, followed by a downward movement from the resistance level.

As such, my target is set at the support level around 0.88600.

The post 10.05.2023 Usdchf Forecast appeared first on Exness Global, Exness Indonesia, Exness Turkey, Exness South Korea, Exness Japan, Exness India, Exness Thailand, Exness South Africa, Exness Vietnam.