Categories: Technical analysis

USDCHF Wave Analysis – 9 September, 2020

• USDCHF reversed from resistance level 0.9200

• Likely to fall to 0.9030

USDCHF recently reversed down strongly from the resistance level 0.9200 (former powerful support from the start of March).

The downward reversal from the resistance level 0.9200 continues the active multi-month downward impulse sequence (3) from June.

Given the long-term daily downtrend – USDCHF is likely to fall further toward the next support level 0.9030 (which reversed earlier waves 3 and (i)).

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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The FxPro Tech Analysis Team
Tags: USDCHF

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