USDCHF: ⬇️ Sell
– USDCHF reversed from resistance level 0.7800
– Likely to fall to support level 0.7600
USDCHF currency pair recently reversed down from the resistance level 0.7800 (former strong support from September, acting as the resistance after it was broken last month) intersecting with the 50% Fibonacci correction of the downward impulse 5 from January.
The downward reversal from the resistance level 0.7800 started the active impulse wave (3).
Given the clear daily downtrend and the strongly bearish US dollar sentiment seen across FX markets today, USDCHF currency pair can be expected to fall toward the next support level 0.7600 (low of the previous impulse wave (3)).