USDCHF Wave Analysis

  • USDCHF under bearish pressure
  • Likely to fall to support level 0.9700

USDCHF currency pair under the bearish pressure after the pair reversed down from the pivotal resistance level 0.9885 (which has been reversing the pair from the middle of July), upper daily Bollinger Band and the resistance trendline of the daily up channel from August.

The downward reversal from the resistance level 0.9885 started the active short-term correction (b).

USDCHF currency pair can be expected to fall further toward the next round support level 0.9700 (former top of the minor wave (a) from the middle of September).

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