USDCHF: ⬇️ Sell
– USDCHF broke daily up channel
– Likely to fall to support level 0.8200
USDCHF currency pair recently broke the support zone between the support level 0.8275 and the support trendline of the daily up channel from the middle of August.
The breakout of this support zone accelerated the active ABC correction (ii) from the start of October.
Given the recent breakout of the aforementioned up channel and strongly bearish US dollar sentiment seen across the FX markets today, USDCHF currency pair can be expected to fall further toward the next support level 0.8200 – former strong resistance from the end of July (acting as the support after it was broken), which stopped the previous correction at the end of September.
