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USD/CHF reversed from support zone

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  • USD/CHF reversed from support zone
  • Next buy target - 1.0100

USD/CHF recently reversed up from the support zone lying between the pivotal support level 0.9880 (which stopped the previous sharp downward waves (A) and (C) - as can be seen from the daily USD/CHF chart below) and the lower daily Bollinger Band. If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Morning Star.

Given the strength of the support level 0.9880 - USD/CHF is expected to rise to the next buy target at the next resistance level 1.0100 (top of the previous intermediate impulse wave (1)).

 

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