Technical analysis

USDCHF Wave Analysis – 27 April 2023

• USDCHF reversed from support level 0.8860

• Likely to rise to resistance level 0.9000

USDCHF currency pair recently reversed up from the key support level 0.8860 (which stopped the previous impulse wave (iii) at the start of this month).

The support zone near the support level 0.8860 was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 0.8860 and the bullish divergence on the daily Stochastic, USDCHF currency pair can be expected to rise further toward the next round resistance level 0.9000 (top of the previous correction (iv)).

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