USDCHF Wave Analysis - 23 October 2026
Published on October 23, 2026
Market Overview
The USDCHF currency pair has shown a significant reversal from a key support level, indicating potential upward movement in the near future. The analysis highlights the importance of the 0.8200 support level, which has previously acted as a strong resistance point.
Technical Analysis
The USDCHF has recently reversed from the support zone around 0.8200. This level is notable as it was a former strong resistance at the end of July and has also coincided with the lower daily Bollinger Band and the 38.2% Fibonacci retracement level of the upward impulse that began in mid-August.
This upward reversal is interpreted as the completion of the ABC correction (iv) that started at the beginning of October. Given the strength of the support at 0.8200 and the prevailing daily uptrend, the USDCHF is expected to rise further towards the next resistance level at 0.8300, which was a former support level at the start of October.
Conclusion
In summary, the analysis suggests a bullish outlook for the USDCHF currency pair, with expectations of a rise towards the 0.8300 resistance level following a strong reversal from the 0.8200 support level.