Categories: Technical analysis

USDCHF Wave Analysis 4 March, 2021

• USDCHF broke resistance area

• Likely to test resistance level 0.9300

USDCHF continues to rise steadily after the earlier breakout of the resistance area lying between the key resistance level 0.9200 (former monthly high from November) and the 61.8% Fibonacci correction level of the previous sharp impulse from July.

The breakout of this resistance area should accelerate the active minor impulse wave 3.

USDCHF is likely to rise further toward the next resistance level 0.9300 (former monthly high from September and the target for completion of wave 3).

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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Tags: USDCHF

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