USDCHF Wave Analysis – 30 January, 2020

USDCHF reversed from resistance area
Likely to fall to 0.9670

USDCHF recently reversed down sharply from the resistance area lying between the resistance level 0.9765, upper daily Bollinger Band and the 38.2% Fibonacci correction of the earlier sharp downward impulse from November.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

USDCHF is likely to fall further toward the next support level 0.9670 (which stopped the earlier corrective wave (b)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: USDCHF

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