May 07, 2021 at 04:04PM
• USDCHF broke support zone
• Likely to fall to support level 0.9000
USDCHF recently broke the support zone located between the support level 0.9085 (low of the previous impulse wave 1) and the 50% Fibonacci correction of the upward wave (B) from January.
The breakout of the support level 0.9085 should accelerate the active impulse waves 3 and (C).
USDCHF is likely to fall further toward the next round support level 0.9000 (former resistance level from February).
From: The FxPro News Team https://fxpro.news/technical-analysis/usdchf-wave-analysis-7-may-2021-20210507/
Selected by fonecable.com
- Australian Dollar Forecast: Major AUD/NZD Bottom May Soon Be Approaching
- British Pound Slips After Data, Still Tied to Range. Can GBP/USD Break Out Ahead of FOMC?
- How to Research Stocks: A Step by Step Guide
- Gold Price Outlook Turns to UofM Sentiment as US Dollar, Treasury Yields Rally
- New Zealand Dollar Outlook: NZD/USD Drops on US Dollar Bids, Wall Street Losses