USDCHF Wave Analysis – 11 January, 2023

  • USDCHF rising inside impulse wave 1

• Likely to reach resistance level 0.9400

USDCHF continues to rise inside the active impulse wave 1, which previously started from the powerful support level 0.9220 (which has been reversing the price from the end of March) – strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 0.9220 created the daily Japanese candlesticks reversal pattern Morning Star.

USDCHF can be expected to rise further toward the next resistance level 0.9400 (forecast price for the completion of the active impulse wave 1).