USDCHF: ⬆️ Buy
– USDCHF reversed from support area
– Likely to rise to resistance level 0.8165
USDCHF currency pair reversed from the support area located between the support level 0.8000, lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from July.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Piercing Line.
Given the strength of the support level 0.8000, USDCHF currency pair can be expected to rise to the next resistance level 0.8165 (top of wave 2 from the end of July).
Source: Fxpro