Technical analysis

USDCHF Wave Analysis – 2 December, 2022

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)).

Article Rating
Rate this post