USD/CHF broke resistance zone

USD/CHF broke resistance zone

  • USD/CHF broke resistance zone
  • Next buy target - 0.9600

USD/CHF continues to rise after the earlier breakout of the resistance zone lying between the resistance level 0.9450 (which reversed the earlier corrections 4 and A) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of January. USD/CHF is expected to rise further inside the active minor impulse wave C toward the next buy target at the next resistance level 0.9600 (forecast price for the completion of the active wave C).




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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