USDCHF Wave Analysis 24 September 2024

– USDCHF reversed from resistance area

– Likely to fall to support level 0.8400

USDCHF currency pair recently reversed down from the resistance area located at the intersection of the key resistance level 0.8525 (upper border of the narrow sideways price range inside which the pair is moving from August) and the upper daily Bollinger Band.

The downward reversal from this resistance area is likely to form the daily Evening Star – if the pair closes today near the current levels.

Given the clear daily downtrend, USCHF can be expected to fall further to the next support level 0.8400 (lower boundary of the active sideways price range).