USDCHF Wave Analysis 18 July 2024

– USDCHF reversed from support area

– Likely to rise to resistance level 0,9000

USDCHF currency pair today reversed up from the support area located between the key support level  0.8835 (which created the Morning Star in June), 38.2% Fibonacci correction of the upward impulse from December and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous waves c and B.

Given the strength of the support level 0.8835, USDCHF currency pair can be expected to rise further to the next resistance level 0,9000 (top of the previous correction ii).