Swiss Franc Moving Higher Towards 1.0300-1.0400

Gregor Horvat

USDCHF turned down a few months back, after it moved very close to the January highs at the start of March. But despite lower prices, we think that those levels from January could be re-tested as latest decline from 1.0130 is slow and in three waves. Ideally that’s a corrective wave that will send price to 1.0300/1.0400 in weeks ahead.

USDCHF Daily Elliott Wave Analysis

On 4h chart USDCHF is at the highs as expected, now in an extended blue wave (iii) that can be headed up to 0.9900 area in sessions ahead. There is a 200% extension target of wave (i) where pair could find some resistance for a short-term pullback into a corrective wave four. Pair remains clearly in bullish mode with more gains to come while price is above 0.9670.

USDCHF 4h Elliott Wave Analysis