• USDCHF broke resistance area
• Likely to reach resistance level 0.9456
USDCHF currency pair continues rise sharply after the price previously broke the resistance area located between the resistance levels 0.9200 (previous monthly high from November) and 0.9300 (previous monthly high from September). The breakout of this resistance area accelerated the active short-term impulse wave 3 – which belongs to the sharp upward impulse wave (C) from the middle of February.
Given the continued outflows from the Swiss franc – USDCHF currency pair is likely to rise further toward the next resistance level 0.9456 (top of the previous minor corrective wave 2 from the middle of July and the target for the completion of the active short-term impulse wave 3).