USDCHF: ⬆️ Buy
– USDCHF reversed from support area
– Likely to rise to resistance level 0.8055
USDCHF currency pair recently reversed from the support area between the strong support level 0.7918 (which has been reversing the price from the end of June) and the lower daily Bollinger Band.
The upward reversal from this support area will form the daily Japanese candlesticks reversal pattern Morning Star – if the pair closes today near the current levels.
Given the strength of the support level 0.7918 and the oversold daily Stochastic, USDCHF currency pair can be expected to rise toward the next resistance level 0.8055 (top of the previous correction ii).
Source: Fxpro