Categories: Technical analysis

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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: USDCHF

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