Technical analysis

USDCHF Wave Analysis 27 October 2023

– USDCHF reversed from support level 0.8900

– Likely to rise to resistance level 0.9085

USDCHF currency pair recently reversed up from the key support level 0.8900 (which has been reversing the pair from September) standing near the lower daily Bollinger Band.

The upward reversal from the support level 0.8900 stopped the previous sharp downward ABC correction (2).

Given the strength of the support level 0.8900, USDCHF currency pair can be expected to rise further toward the next resistance level 0.9085.

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