December 10, 2020 at 03:30PM

• USDCHF broke support level 0.8900

• Likely to fall to 0.8800

USDCHF recently broke through the support area lying at the intersection of the key support level 0.8900 and the support trendline of the wide weekly down channel from 2019.

The breakout of this support area accelerated the active minor downward impulse wave (iii) – which belongs to the higher order impulse waves 3 and (3). 

USDCHF  is expected to fall further toward the next support level 0.8800 (target price for the completion of the active minor impulse wave (iii)).

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From: The FxPro Tech Analysis Team
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