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USDCHF Wave Analysis – 16 May, 2022

39248 usdchf wave analysis 16 may 2022

• USDCHF reversed from party

• Likely to rise to 1.0100

USDCHF continues to rise after the earlier upward reversal from the strong support at parity, 1.000 (earlier resistance from the start of May).

The upward reversal from the parity continues the active short-term impulse waves 5 and (C).

USDCHF can be expected to rise further toward the next resistance level 1.0100, coinciding with the upper trendline of the daily up channel from the start of April.

Source: Fxpro

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