USD/CHF broke major support level 0.9870

USD/CHF broke major support level 0.9870

  • USD/CHF broke major support level 0.9870
  • Next sell target - 0.9800

USD/CHF continues to fall after the recent breakout of the major support level 0.9870 (which has been repeatedly reversing the price from the end of June, as can be seen below). The breakout of the support level 0.9870 should accelerate the active short-term impulse wave c from July. USD/CHF is expected to fall further toward the next sell target at the next support level 0.9800 (monthly low from June and the target for completion of wave (c)).

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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