USDCHF Wave Analysis – 15 November, 2022

• USDCHF reversed up from support level 0.9380

• Likely to rise to resistance level 0.9485

USDCHF recently reversed up from the support level 0.9380 (former multi-month low from the start of August) standing below the lower daily Bollinger Band.

The upward reversal from the support level 0.9380 stopped the earlier short-term impulse wave (iii) of the sharp C-sequence from the middle of October.

Given the oversold daily Stochastic, USDCHF can be expected to rise further toward the next resistance level 0.9485 (former monthly low from September).