USDCHF Wave Analysis 21 January, 2021
January 21, 2021 @ 18:51 +03:00
• USDCHF reversed from resistance level 0.8910
• Likely to fall 0.8800
USDCHF recently reversed down from the resistance level 0.8910 (which has been steadily reversing the price from the start of December – as can be seen below).
The resistance zone near the resistance level 0.8910 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the downward impulse from November.
Given the clear multi-year downtrend – USDCHF is expected to fall further toward the next support level 0.8800 (target price for the active minor wave (b)).