LeoPrime Daily Market Analysis

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USDCHF broke resistance area; Likely to rise to resistance level 0.93500

USDCHF currency pair continues to rise after breaking the resistance area lying between the multi-month breaking level 0.92650 (which stopped the previous impulse wave 1 at the start of July) and the 61.8% Fibonacci correction of the sharp downward price impulse from April. The breakout of this resistance area accelerated the active impulse waves © and 3. Given the strongly bearish Swiss franc sentiment seen across the FX markets today, USDCHF currency pair can be expected to rise further toward the next resistance level 0.93500 (target for the completion of the active impulse wave 3).

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