USDCHF Technical Analysis Report 14 March, 2025
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USDCHF currency pair can be expected to rise to the next resistance level 0.8900 (former support from the end of February).
- USDCHF reversed from support zone
- Likely to rise to resistance level 0.8900
USDCHF currency pair recently reversed up from the support area lying between the key support level 0.8750 (which has been reversing the price from December, as can be seen from the daily USDCHF chart below), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from September. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer, which stopped the previous impulse waves 3 and (3) – which added to the bullish pressure on this currency pair.
Given the strength of the aforementioned support area and the strongly bullish US dollar sentiment that can be seen across the currency markets today, USDCHF currency pair can be expected to rise to the next resistance level 0.8900 (former support from the end of February).
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