Categories: Technical analysis

USDCHF Wave Analysis – 15 June, 2020

• USDCHF reversed from resistance zone

• Likely to fall to 0.9400

USDCHF recently reversed down from the resistance area lying between the resistance level 0.9500 (former support from the end of March) and the 38.2% Fibonacci correction of the previous downward impulse from the end of April.

The downward reversal from this resistance area is aligned with the active short-term downward impulse sequence 3 from last month.

USDCHF is likely to fall further toward the next support level 0.9400 (which created the daily Morning Star earlier this month).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: USDCHF

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