FBS - Analytics


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    USD/CHF falling inside intermediate corrective wave (2)

    USD/CHF has been falling sharply in the last few trading sessions inside the intermediate corrective wave (2) – which started at the end of May – when the pair reversed down form the resistance zone lying between the resistance level 0.9950, upper daily Bollinger Band and the 61.8% Fibonacci correction level of the previous sharp downward impulse wave from the end of January.

    Having recently broken through the support levels 0.9800 and 0.9700 - USD/CHF can be expected to fall further in the active wave (2) toward the next sell target at the support level 0.9500 (which previously reversed the price in May and April).


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