• USDCHF reversed from support area
• Likely to reach resistance level 0.9300
USDCHF currency pair today reversed up from the support area lying between the pivotal support level 0.9230 (which reversed the pair multiple times in the middle of March), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse C from the middle of February. The upward reversal from this support area stopped the previous sharp downward impulse wave C from the end of March.
Given the strength of the nearby support level 0.9230 – USDCHF currency pair can be expected to rise further toward the next resistance level 0.9300. Strong support remains at the support level 0.9230.