Technical analysis

USDCHF Wave Analysis 19 October, 2020

USDCHF Wave Analysis 19 October, 2020

• USDCHF reversed from resistance area

• Likely to fall to 0.9080

USDCHF recently reversed down from the resistance area lying between the multi-candle resistance level 0.9160 (former support from the end of September) and the 38.2% Fibonacci correction of the downward impulse (i) from last month.

The downward reversal from this resistance area continues the active short-term impulse wave 3.

USDCHF is likely to fall further toward the next support level 0.9080 (low of the previous impulse wave (i)).

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