Technical analysis

USDCHF Wave Analysis – 11 June, 2021

• USDCHF reversed from key support level 0.8940

• Likely to rise to resistance level 0.9050

USDCHF currency pair recently reversed up from the key support level 0.8940 (which has been reversing the price from the end of February) – standing close to the lower daily Bollinger Band.

The upward reversal from the support level 0.8940 stopped the previous short-term impulse wave 3 from the start of June.

Given the strength of the support level 0.8940 and growing USD bullishness – USDCHF currency pair can then be expected to rise further toward the next resistance level 0.9050 (top of wave 2).

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