USDCHF Wave Analysis – 20 October, 2022

• USDCHF under bearish pressure

• Likely to fall to support level 0.9930

USDCHF under the bearish pressure after the price reversed down from the major resistance level 1.0050 (which stopped all upward impulses from the middle of May).

The resistance level 1.0050 was strengthened by the upper daily Bollinger Band and by the resistance trendline of the daily up channel from August.

USDCHF can be expected to fall further toward the next support level 0.9930 (which reversed the price earlier this month).