USD/CHF broke daily down channel

USD/CHF broke daily down channel

  • USD/CHF broke daily down channel
  • Next buy target - 1.0000

USD/CHF recently broke the resistance trendline of the daily down channel from the start of May. The breakout of this down channel continues the active impulse wave (1), which started earlier from the support area lying between the 50% Fibonacci correction of the upward price impulse (5) from April and the lower daily Bollinger Band. USD/CHF is expected to rise further toward the next buy target at the next resistance level 1.0000.

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