USD/CHF: buy targets - 0.9850 and 1.0080
By: Dmitriy Chernovolov
- USD/CHF rises inside C-wave
- Next buy targets - 0.9850 and 1.0080
USD/CHF continues to rise inside the C-wave of the intermediate ABC correction (2) from the start of May. This C-wave earlier broke the strong resistance level 0.9500 (which reversed the previous A-wave of this ABC correction) – intersecting with the 200-day simple moving average – which intensified the bullish pressure on this currency pair.
USD/CHF is likely to rise further inside the active C-wave toward the next buy target at the nearby resistance level 0.9850 (top of the minor correction 2) – the breakout of which can lead to further gains toward 1.0080 (top of wave ② from March.