USDCHF Wave Analysis 8 March, 2021
March 08, 2021 @ 18:47 +03:00
• USDCHF broke resistance level 0.9300
• Likely to rise to resistance 0.9400
USDCHF recently broke the pivotal resistance level 0.9300 (former multi-month high from the end of September).
The breakout of the resistance level 0.9300 coincided with the breakout of the 50 % Fibonacci correction of the downward impulse from last May.
Given the continued dollar bullishness seen today – USDCHF is likely to rise further toward the next resistance 0.9400 (target price for the completion of the active impulse wave 3).