USDCHF: ⬆️ Buy
- USDCHF reversed from support zone
- Likely to rise to resistance level 0.8000
USDCHF recently reversed up from the support zone located between the pivotal support level 0.7865 (which stopped the sharp downtrend in June), lower daily Bollinger Band and the support trendline of the daily down channel from July.
The upward reversal from this support zone will mostl likely form the daily Japanese candlesticks reversal pattern Morning Star – if the price closes today near the current levels.
Given the strength of the support level 0.7865 and the oversold daily Stochastic, USDCHF can be expected to rise to the next round resistance level 0,8000 (former support from August).
, lower daily Bollinger Band and the support trendline of the daily down channel from July.){kind=link}