Technical analysis

USDCHF Wave Analysis – 13 April 2023     


• USDCHF under strong bearish pressure

• Likely to fall to support level 0.8800

USDCHF under the strong bearish pressure after the pair broke the support area located between the support levels 0.9020 and 0.8920 (former multi-month low from 2021).

The breakout of this support area accelerated the active intermediate impulse wave (3) from March.

USDCHF can then be expected to fall further toward the next support level 0.8800 (which stopped the weekly downtrend at the start of 2021, target price for the completion of the active impulse wave (3)).

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