USDCHF recently reversed up from the support area lying between the pivotal support level 0.96250 (low of the previous daily Japanese candlesticks reversal pattern Morning Star from the middle of July) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous impulse wave 5. Given the moderate bearish sentiment affecting the Swiss franc at the moment – USDCHF is likely to extend the gains toward the next resistance level 0.97000 (coinciding with the 50% Fibonacci correction of the previous downward correction from the end of January).