Technical analysis

USDCHF Wave Analysis 7 May, 2021

• USDCHF broke support zone

• Likely to fall to support level 0.9000

USDCHF recently broke the support zone located between the support level 0.9085 (low of the previous impulse wave 1) and the 50% Fibonacci correction of the upward wave (B) from January.

The breakout of the support level 0.9085 should accelerate the active impulse waves 3 and (C).

USDCHF is likely to fall further toward the next round support level 0.9000 (former resistance level from February).

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