Technical analysis
USDCHF Wave Analysis 21 January, 2021
January 21, 2021 @ 18:51 +03:00
![USDCHF Wave Analysis 21 January, 2021 USDCHF Wave Analysis 21 January, 2021](https://fxpro.news/wp-content/uploads/2020/12/swiss.jpg)
• USDCHF reversed from resistance level 0.8910
• Likely to fall 0.8800
USDCHF recently reversed down from the resistance level 0.8910 (which has been steadily reversing the price from the start of December – as can be seen below).
The resistance zone near the resistance level 0.8910 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the downward impulse from November.
Given the clear multi-year downtrend – USDCHF is expected to fall further toward the next support level 0.8800 (target price for the active minor wave (b)).
![](https://fxpro.news/wp-content/uploads/2021/01/usdchf-primary-analysis-jan-21-1716-pm-1-day-1-1024x479.png)