USDCHF Wave Analysis – 09 March, 2020

• USDCHF reversed from key support level 0.9200
• Likely to rise to 0.9400

USDCHF recently reversed up sharply from the key support level 0.9200 (which stopped the sharp downtrend in February of 2018, as can be seen below).

The upward reversal from this support level was accompanied by the clear bullish divergence on the weekly Stochastic indicator.

USDCHF is likely rise further toward the next resistance level 0.9400. In the alternative scenario – the pair is likely to retest the support at 0.9200.