Technical analysis

USDCHF Wave Analysis 1 March, 2021

USDCHF Wave Analysis 1 March, 2021

• USDCHF broke resistance area

• Likely to rise to 0.9200

USDCHF recently broke the resistance area located between the resistance level 0.9030 (top of the previous correction (A)) and the 61.8% Fibonacci correction of the previous sharp downward impulse from November.

The breakout of this resistance area accelerated the active impulse waves 3 and (C).

USDCHF is likely to rise further toward the next resistance level 0.9200 (target price for the completion of the active impulse wave 3, former monthly high from November).

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