USD/CHF: sell target - 0.9700
By: Dmitriy Chernovolov
- USD/CHF reached sell target 0.9900
- Next sell target - 0.9700
USD/CHF recently fell sharply, breaking through the three consecutive support levels – 1.0000, 0.9900 (this support level was set as the sell target in our previous forecast for this currency pair) and 0.9800 (low of the previous intermediate (A)-wave). Each of these support breaks intensified the bearish pressure on this currency pair - accelerating the active intermediate (C)-wave, which belongs to the primary ABC correction ② from the end of November.
USD/CHF might correct up to the recently broken price level 0.9800 (serving as resistance now after it was broken) – from where this currency pair can be sold with the sell target set at the support level 0.9700.