USD/CHF: sell target - 0.9500
By: Dmitriy Chernovolov
- USD/CHF reversed from resistance level 0.9800
- Next sell target - 0.9500
USD/CHF recently reversed down from the resistance level 0.9800 - which is the lower boundary of the strong resistance zone lying between the resistance levels 0.9800 and 1.0100. This resistance zone earlier reversed waves (A), B, ② and most recently wave (2), as you can see from the daily USD/CHF chart below). The price is currently falling inside the 3rd intermediate impulse wave (3) – which belongs to the primary downward impulse wave ③ from August.
USD/CHF is likely to fall further toward the next sell target at the support level 0.9500. Sell stop-loss can be placed above aforementioned resistance level 0.9800.