January 21, 2021 at 03:51PM

• USDCHF reversed from resistance level 0.8910

• Likely to fall 0.8800

USDCHF recently reversed down from the resistance level 0.8910 (which has been steadily reversing the price from the start of December – as can be seen below).

The resistance zone near the resistance level 0.8910 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the downward impulse from November.

Given the clear multi-year downtrend – USDCHF is expected to fall further toward the next support level 0.8800 (target price for the active minor wave (b)).

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From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/usdchf-wave-analysis-21-january-2021-20210121/
Selected by fonecable.com

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