USD/CHF: market to test the lower 'Window'
There's a bearish 'Engulfing', which formed at the last local high, but this pattern hasn't been confirmed yet. It's likely that...
EUR/CHF broke the support level 1.0900
- EUR/CHF broke the support level 1.0900
- Next sell target - 1.8200
EUR/CHF continues to fall inside the minor corrective wave (iv), which started earlier from the resistance zone lying between the resistance level - 1.0976 (previous buy target set in our earlier forecast for this currency pair) and the upper daily Bollinger Band. The price today broke the support level 1.0900 – which intensified the bearish pressure on this currency pair.
EUR/CHF is expected to fall further to the next sell target at the support level 1.8200 (previous strong resistance level from March, intersecting with the 50% Fibonacci correction of the upward impulse from April).
Dmitry Chernovolov
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