USDCHF Wave Analysis – 12 January, 2022

• USDCHF reversed resistance level 0.9250

• Likely to fall to support level 0.9110

USDCHF recently reversed down from the pivotal resistance level 0.9250 (which has been reversing the price from the end of November), intersecting with the upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward wave (ii) from November.

The downward reversal from the resistance level 0.9250 created the daily reversal pattern Dark Cloud Cover.

Given the strength of the resistance level 0.9250 – USDCHF currency pair can be expected to fall further toward the next support level 0.9110 (which has been reversing the pair from August).