Technical analysis

USDCHF Wave Analysis 28 November 2023

– USDCHF broke key support level 0.8900

– Likely to fall to support level 0.8700

USDCHF currency pair continues to fall inside the minor impulse wave 3, which previously broke the key support level 0.8900, coinciding with the 50% Fibonacci correction of the upward wave (B) from the end of July.

The active impulse wave 3 belongs to the higher order downward impulse wave C from the start of October.

USDCHF currency pair can be expected to fall further to the next support level 0.8700, previous monthly low from August.

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