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April 01, 2021 @ 18:13 +03:00
• USDCHF reversed from 0.9460
• Likely to fall to support level 0.9380
USDCHF recently reversed down from the long-term resistance level 0.9460 (former monthly high from July) – strengthened by the upper daily Bollinger Band.
The downward reversal from this resistance area stopped the previous upward impulse waves (v) and 3 of the sharp upward impulse wave (C) from February.
Given the bearish divergence on the daily Stochastic indictor, overbought daily Stochastic – USDCHF currency pair is likely to fall toward the next support level 0.9380 (former top of wave 1 from the start of March).