LeoPrime Daily Market Analysis

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USDCHF rising inside impulse wave (c); Likely to reach resistance level 0.90000

USDCHF continues to rise inside the minor impulse wave (c) – which previously broke the resistance area located between the pivotal resistance level 0.89200 (which has been reversing the price from the start of December) and the 38.2% Fibonacci correction of the downward impulse from November. The breakout of this resistance area should add to the bullish pressure on USDCHF. Given the widespread bearish Swiss franc sentiment seen across the FX markets today – USDCHF currency pair can be expected to rise further toward the next round resistance level 0.90000 (target price for the completion of the active impulse wave (c)).

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