Categories: Technical analysis

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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: USDCHF

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