USDCHF Technical Analysis Report 2 March, 2021

• USDCHF broke resistance level 0.9145
• Likely to rise to resistance level 0.9200

USDCHF currency pair continues to rise after breaking the resistance level 0.9145 (top of the previous minor correction (ii) from the end of November). The breakout of the resistance level 0.9145 was preceded by the breakout of the two downward sloping resistance trendlines from September and July – which accelerated the active short-term impulse wave 3 – which belongs to the sharp impulse wave (C) from the middle of February.

Given the continued USD bullishness and Swiss franc outflows on improving Covid picture globally – USDCHF currency pair is likely to rise further toward the next round resistance level 0.9200 (multi-month high from the end of October). Strong support now stands at the support level 0.9145.

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