Technical analysis

USDCHF Wave Analysis 27 December 2023

– USDCHF broke key support level 0.8570

– Likely to fall to support level 0.8400

USDCHF under the bearish pressure after the pair broke the key support level 0.8570 (former multi month low from July).

The breakout of the support level 0.8570 accelerated both of the active impulse waves 3 and (3).

Given the clear daily downtrend and the strongly bullish Swiss franc sentiment seen today, USDCHF currency pair can be expected to fall further to the next support level 0.8400 (target for the completion of the active impulse wave 3).

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