The USD/CHF pair demonstrates an overall bullish momentum, supported by the price's position above a major ascending trend line. While the general trend is bullish, there is a possibility of a short-term drop towards the 1st support at 0.9005, which acts as an overlap support and a potential base for a rebound.
In the event that the price breaks below the 1st support, it may find additional support at 0.8956, another overlap support level. Looking upwards, the 0.9075 level serves as a pullback resistance and aligns with a 50% Fibonacci retracement, potentially posing a significant barrier if the price bounces from the 1st support and moves upwards.
If the price successfully surpasses the 1st resistance, its next target would be the 2nd resistance at 0.9120. This level is an overlap resistance and coincides with a 61.8% Fibonacci retracement, making it a notable barrier for the price to overcome.
