Market Snapshots

USDCHF Wave Analysis – 23 April, 2020

USDCHF Wave Analysis – 23 April, 2020
  • USDCHF broke daily Triangle
  • Likely to rise to 0.9800

USDCHF recently broke the resistance trendline of the daily Triangle from the end of March (which encloses waves (a) and (b) of the active ABC correction (ii)).

The breakout of the Triangle coincided with the breakout of the resistance level 0.9700 (which stopped the a sub-wave of the active minor wave ii).

USDCHF is expected to rise further toward the next resistance level 0.9800 (top of the previous wave (b) and the target for the completion of wave ii).

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