• USDCHF reversed from resistance zone
• Likely to fall to support level 0.9225
USDCHF currency pair recently reversed down from the resistance area located between the key resistance level 0.9370 (previous monthly high from September) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous short-term impulse wave 3 – which belongs to the higher pored impulse wave (3) from the start of August.
Given the strength of the aforementioned resistance area and the strongly bullish Swiss franc sentiment as seen across the currency markets today, USDCHF currency pair can be expected to fall further toward the next support level 0.9225 (former resistance from the end of last month).