Technical analysis

USDCHF Wave Analysis 18 March, 2021

USDCHF Wave Analysis 18 March, 2021

• USDCHF reversed from support area

• Likely to reach resistance level 0.9325

USDCHF currency pair recently reversed up sharply from the support area located between the key support level 0.9210 (former monthly high from November) and the 38.2% Fibonacci correction of the upward impulse from February.

The upward reversal from this support zone stopped the previous minor correction from the start of March.

USDCHF currency pair is likely to rise further toward the next resistance level 0.9325 – followed by the resistance level 0.9380 (top of the earlier impulse wave (C)).

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