USDCHF Wave Analysis – 17 November, 2022

• USDCHF reversed from support level 0.9400

• Likely to rise to resistance level 0.9600

USDCHF currency pair recently reversed up from the key support level 0.9400 (previous multi-month low from August, which stopped wave (A)) standing below the lower daily Bollinger Band.

The upward reversal from the support level 0.9400 stopped the earlier medium-term impulse wave (C).

Given the strength of the support level 0.9400 and the oversold daily Stochastic, USDCHF currency pair can be expected to rise further toward the next resistance level 0.9600.