USDCHF Wave Analysis – 10 December, 2019

USDCHF reversed from key support level 0.9855
Likely to rise to 0.9915

USDCHF recently reversed up from the key support level 0.9855 (which has been reversing the price from September) – strengthened by 50% Fibonacci correction of the previous upward impulse from August and by the lower daily Bollinger Band.

The upward reversal from the support level 0.9855 stopped the earlier impulse wave 3.

USDCHF is expected to rise further toward the next resistance level 0.9915 (top of the Bearish Engulfing from the start of December).

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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