USD/CHF recently broke above the upward correction target 0.8850 that was set in our earlier report for this currency pair. The breakout of this correction target coincided with the breakout of the two resistance trendlines belonging to two down channels from this January and last year respectively.
This triple breakout accelerated the currently active C-wave of the intermediate ABC correction (2) from March.This wave recently stopped at the resistance level 0.8950 (top of the previous A-wave). If USD/CHF breaks above 0.8950 – it can rise to the next buy target at 0.9000.
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