USD/CHF reversed from support zone

USD/CHF reversed from support zone

  • USD/CHF reversed from support zone
  • Next buy target - 0.9450

USD/CHF recently reversed up from the support zone lying between the strong support level 0.9250 (low of the previous intermediate impulse wave (3)) and the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line. Given the bullish divergence signal on the daily Stochastic indicator, USD/CHF is expected to rise to the next buy target at the next resistance level 0.9450 (high of wave (4)).

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