Technical analysis

USDCHF Wave Analysis – 25 October, 2022

USDCHF Wave Analysis – 25 October, 2022

• USDCHF reversed from resistance level 1.0050

• Likely to fall to support level 0.992

USDCHF recently reversed down from the key multi-month resistance level 1.0050 (which has been reversing the price from May), intersecting with the upper daily Bollinger Band and the resistance trendline of the daily up channel from August.

The downward reversal from the resistance level 1.0050 started the active short-term corrective wave (ii).

USDCHF can be expected to fall further toward the next support level 0.992 (low of the previous minor correction (iv))).

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