USDCHF currency pair can be expected to rise further toward the next resistance level 0.8875.
– USDCHF broke resistance zone
– Likely to rise to resistance level 0.8875
USDCHF currency pair continues to rise strongly the earlier breakout of the resistance zone located at the intersection of the resistance level 0.8720 (which also reversed the pair in the middle of August, as you can see from the daily USDCHF chart below) and the 50% Fibonacci correction of the downward impulse (C) from the start of July. The breakout of this resistance zone accelerated the active short-term impulse wave 5 of the medium-term impulse sequence (3) from the middle of September.
Given the strongly bullish US dollar sentiment can be seen across the FX markets today, USDCHF currency pair can be expected to rise further toward the next resistance level 0.8875 (former resistance from the end of July and the target price for the completion of the active minor impulse wave 5).
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