Technical analysis

USDCHF Wave Analysis 4 March, 2021

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).

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