USDCHF Wave Analysis – 7 February 2025

– USDCHF reversed from support zone

– Likely to rise to resistance level 0.9185

USDCHF currency pair recently reversed up from the support zone between the round support level 0.9000 (which also stopped the previous correction (2)), lower daily Bollinger Band and the support trendline from December.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line.

Given the clear daily uptrend, USDCHF currency pair can be expected to rise to the next resistance level 0.9185 (which has been reversing the price from May of 2024, as can be seen below).

Source: https://fxpro.news