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USDCHF Wave Analysis – 18 March, 2019

  • USDCHF reversed from resistance area
  • Further losses are likely

USDCHF recently reversed down from the resistance area lying between the key resistance level 1.0100 (which has been steadily reversing the price from November) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term ABC correction (ii).

USDCHF is expected to fall further in the active ABC correction (ii) and re-test the next key support level 0.9910 (low of the previous wave 2).

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Source: FxPro


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