Elliott wave analysis of USD/CHF for March 2, 2021

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USD/CHF is testing key-resistance near 0.9174 and a break above here will open up for a continuation towards 1.0235 and possibly even higher towards 1.1000 longer term.

Short-term we could see resistance at 0.9295 cap the upside for a temporary correction to 0.9041 before renewed upside pressure towards 1.0235 and possibly higher.

R3: 0.9295

R2: 0.9258

R1: 0.9208

Pivot: 0.9174

S1: 0.9118

S2: 0.9075

S3: 0.9028

Trading recommendation:

Buy CHF near 0.9041 and place your stop at 0.8930

The material has been provided by InstaForex Company - www.instaforex.com

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