USDCHF Looks For Support Near 0.9200

USDCHF fell to a new low last week, beneath 0.9400 level and extended to 161.8% Fibonacci zone. We have seen a break out of a bearish triangle in wave B), so pair can be in final leg down of a big contra-trend move. That said, a reversal in price to the upside should not be a surprise in days ahead, but for now we do not see any low in place yet, so we need to keep in mind potential sell-off to our second support near 0.9200. Divergence on the RSI also suggest that pair is in a final stages of a bearish trend.
USDCHF 4h Elliott Wave Analysis

Written by www.ew-forecast.com

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