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USD/CHF broke multi-month support level 0.9550

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  • USD/CHF broke multi-month support level 0.9550
  • Next sell target - 0.9450

USD/CHF has been under strong bearish pressure lately – following the earlier breakout of the strong multi-month support level 0.9550 (which had reversed all strong downward impulse waves from June of 2016, as can be seen below). The breakout of the support level 0.9550 accelerated the active impulse wave C, which belongs to the intermediate ABC correction from last December. USD/CHF can be expected to fall to the next sell target at the next support level 0.9450 (target price calculated for the termination of the active impulse wave C).

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