Technical analysis

USDCHF Wave Analysis 26 March 2024

– USDCHF broke the resistance level 0.8875

– Likely to rise to resistance level 0.9100

USDCHF currency pair recently broke the resistance level 0.8875 (which has been reversing the price from February), intersecting with the 61.8% Fibonacci correction of the downward impulse from October.

The breakout of the resistance level 0.8875 accelerated the C-wave of the active intermediate ABC correction (4).

Given the strongly bearish Swiss France sentiment seen today, USDCHF currency pair can be expected to rise further to the next resistance level 0.9100 (target for the completion of the active impulse wave C).

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