USDCHF Wave Analysis – 2 December, 2022

• USDCHF reversed from support level 0.9380

• Likely to rise to resistance level 0.9500

USDCHF currency pair just reversed up sharply from the key multi-month support level 0.9380 (which has been reversing the pair from the start of April).

The upward reversal from the support level 0.9380 stopped the earlier short-term impulse wave (iii).

Given the clear bullish divergence on the daily Stochastic, USDCHF can be expected to rise further toward the next resistance level 0.9500 (which stopped wave (ii)).