USDCHF Wave Analysis – 17 March, 2020

• USDCHF rising sharply
• Further gains likely toward 0.9700

USDCHF has been rising sharply in the last few trading sessions after the price reversed up beautifully from the multi-year support level 0.9200 (which stopped the daily downtrend at the start of 2018).

The price recently broke above the resistance level 0.9540 (monthly low from September of 2018) – which accelerated the active upward correction.

USDCHF is likely to rise further toward the next resistance level 0.9700 (former powerful support from the middle of 2019).