The USD/CHF currency pair has seen a significant bounce from the 0.8819 level, rising as high as 0.8923. However, it is currently facing resistance from a falling trend line on the 4-hour chart.
If the price manages to break above this trend line, we could see further gains, with the next resistance level around 0.8990. If it surpasses that, the focus will shift to the 0.9050 resistance level.
On the downside, the initial support to watch is at 0.8870. If the price falls below this level, it may test the support at 0.8819. Should it break that, the next target would be around 0.8780.
In summary, the USD/CHF has shown strong upward momentum, but key resistance and support levels will be crucial in determining its next move. Keep an eye on these levels as the market develops!