Categories: Technical analysis

USDCHF Wave Analysis 21 September 2023

– USDCHF broke resistance level 0.9000

– Likely to rise to resistance level 0.9150

USDCHF recently broke above the round resistance level 0.9000 (which has been reversing the price from June) intersecting with the 50% Fibonacci correction of the downtrend from March.

The breakout of the resistance level 0.9000 should accelerate the active impulse wave c, which belongs to the ABC correction 2 from July.

USDCHF can be expected to rise further toward the next resistance level 0.9150 (target for the completion of the active impulse wave c).

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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The FxPro Tech Analysis Team
Tags: USDCHF

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