Technical analysis

USDCHF Wave Analysis 10 February, 2021

USDCHF Wave Analysis 10 February, 2021

• Swiss franc broke daily up channel

• Likely to test support level 0.8835

USDCHF continues to fall inside the short-term impulse wave 3 – which started earlier with the daily Bearish Engulfing from the round resistance level 0.9000.

The price earlier broke the support trendline of the daily up channel from the start of January – which added to the bearish pressure on the Swiss franc.

USDCHF is likely to fall further toward the next support level 0.8835 (low of the previous minor correction (b) from last month).

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