Technical analysis

USDCHF Wave Analysis 4 June 2024

– USDCHF broke round support level 0.9000

– Likely to fall to support level 0.8850

USDCHF currency pair recently broke the round support level 0.9000 (which has been reversing the price from the start of April).

The breakout of the support level 0.9000 coincided with the breakout of the 50% Fibonacci correction of the previous upward impulse from March.

Given the strong Swiss franc inflows, USDCHF currency pair be expected to fall further to the next support level 0.8850 (former minor support from the end of March).

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