Technical analysis

USDCHF Wave Analysis – 11 April 2023

• USDCHF reversed from resistance level 0.9095

• Likely to fall to support level 0.9000

USDCHF currency pair recently reversed down from the key resistance level 0.9095 (former powerful support which has been reversing the price from the middle of January).

The downward reversal from the resistance level 0.9095 continues the active short-term impulse wave (iii) – which belongs to the impulse waves 3 and (3).

Given the long-term downtrend, USDCHF can then be expected to fall further toward the next round support level 0.9000 (low of the earlier Hammer from the start of this month).

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