Market Snapshots

USDCHF reversed from resistance zone

USDCHF reversed from resistance zone
  • USDCHF reversed from resistance zone
  • Further losses are likely

USDCHF today reversed down from the resistance zone lying between the resistance level 0.9940 (which also reversed the price with the daily Evening Star at the start of August), upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from April.

The downward reversal from this resistance zone stopped the earlier short-term impulse wave 3 from August.

USDCHF is expected to fall further and retest the next support level 0.9875 (former strong resistance from last month).

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