Technical analysis

USDCHF Wave Analysis – 1 July, 2022

USDCHF Wave Analysis – 1 July, 2022

• USDCHF reversed from support level 0.954
• Likely to rise to resistance level 0.9675

USDCHF today reversed up from the key support level 0.954 (the previous monthly low from May), intersecting with the 61.8% Fibonacci correction of the sharp upward impulse from March.

The upward reversal from the support level 0.954 stopped the active minor impulse wave (i).

Given the predominant uptrend, USDCHF can be expected to rise further toward the next resistance level 0.9675 (top of the previous minor correction (b)).

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