USDCHF Wave Analysis – 20 May, 2020

• USDCHF falling inside sideways price range

• Likely to fall to 0.9600

USDCHF recently reversed down from the resistance zone lying between the pivotal resistance level 0.9800 (upper boundary of the sideways price range from the start of April) and the upper daily Bollinger Band.

The downward reversal from this resistance zone started the active short-term impulse wave (iii) – which belongs to the higher level impulse waves 3 and (3). USDCHF is likely to fall further toward the next support level 0.9600 (low of this sideways price range).