• USDCHF reversed from support zone
• Likely to rise to resistance level 0.9250
USDCHF currency pair recently reversed up from the combined support zone lying between the key multi-month support level 0.9100 (which has been reversing the pair from last August as can be seen from the daily USDCHF chart below) and the lower daily Bollinger Band. The upward reversal from the support level 0.9100 stopped the earlier intermediate ABC correction (2) from the end of November.
Given the strength of the support level 0.9100 and the improving USD sentiment seen across the FX markets today USDCHF currency pair can be expected to rise further toward the next resistance level 0.9250 (which has been repeatedly reversing the pair from last month).