• USDCHF broke key support level 0.9650
• Further losses are likely
USDCHF today broke below the key support level 0.9650 (which stopped the sharp downward impulse wave 3 in August and also earlier this month, as can be seen below).
The breakout of the support level 0.9650 should accelerate the active impulse wave 5 of the medium-term impulse wave (3) from last month.
If the pair closes this week below 0.9650 – USDCHF is expected to fall further and retest the next support level 0.9570 (forecast price for the completion of the active impulse wave 3).