Fri, Jun 09, 2023 @ 13:47 GMT

USDCHF Wave Analysis

  • USDCHF reversed from key support level 0.8860
  • Likely to rise to resistance level 0.8965

USDCHF currency pair recently reversed up from the key support level 0.8860 (which has been steadily reversing the pair from the middle of April).

The upward reversal from the support level 0.8860 follows the earlier upward reversal which created the daily Morning Star Doji.

Given the triple bullish divergence on the daily Stochastic, USDCHF can be expected to rise further toward the next resistance level 0.8965 (which stopped the earlier waves (iv) and (ii)).

FxPro is an award-winning online broker offering Contracts for Difference (CFDs) on forex, futures, spot indices, shares, spot metals and spot energies. FxPro serves clients in over 150 countries worldwide and offers multilingual customer support 24/5. Trading CFDs involves significant risk of loss.

Featured Analysis

Learn Forex Trading