Technical analysis

USDCHF Wave Analysis – 27 July 2023

– USDCHF reversed from support level 0.8560

– Likely to rise to resistance level 0.8700

USDCHF recently reversed up from the key support level 0.8560 (which stopped the previous impulse wave i in the middle of July).

The upward reversal from this support level is currently forming the daily reversal pattern Bullish Engulfing.

USDCHF can be expected to rise further toward the next round resistance level 0.8700 (top of the previous correction ii).

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