Given the strength of the active impulse wave 3, USDCHF currency pair can be expected to rise to the resistance level 0.8040 (former monthly high from January and the target for the completion of the active impulse wave 3).
- USDCHF broke resistance area
- Likely to rise to resistance level 0.8040
USDCHF currency pair recently broke the resistance area between the key resistance level 0.7940 (which stopped the previous minor impulse wave 1, as can be seen from the daily USDCHF chart below), resistance trendline of the daily down channel from January, weekly resistance trendline from May and the 61.8% Fibonacci correction of the downward impulse from November. The breakout of this resistance area accelerated the active minor impulse wave 3, which is part of the intermediate C-wave from the start of March.
Given the strength of the active impulse wave 3, USDCHF currency pair can be expected to rise to the resistance level 0.8040 (former monthly high from January and the target for the completion of the active impulse wave 3).
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