USDCHF Wave Analysis – 10 August, 2022

• USDCHF broke key support level 0.9480

• Likely to fall to support level 0.9300

USDCHF currency pair recently broke the key support level 0.9480 (which stopped the earlier minor impulse wave 1 at the start of August).

The breakout of the support level 0.9480 follows the earlier breakout of the 61.8% Fibonacci correction of the upward impulse from March.

USDCHF can be expected to fall further toward the next support level 0.9300 (target price for the completion of the active intermediate impulse wave (C)).