Technical analysis

USDCHF Wave Analysis 2 December, 2020

USDCHF Wave Analysis 2 December, 2020

• USDCHF broke round support level 0.9000

• Likely to fall to 0.8900

USDCHF recently broke the round support level 0.9000 (which has previously reversed all sharp downward impulses from the end of August – as can be seen from the daily USDCHF chart below).

The breakout of the support level 0.9000 continues the prevailing downtrend that can be seen on the daily and the weekly Swiss franc charts.

USDCHF is expected to fall further toward the next support level 0.8900 (forecast price for the completion of the active impulse wave (iii) intersecting with the weekly down channel from 2019).

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