Given the strong multi-month downtrend that can be seen on the daily USDCHF charts, USDCHF currency pair can be expected to fall further to the next support level 0.8200.
- USDCHF broke support area
- Likely to fall to support level 0.8200
USDCHF currency pair falling strongly after it broke sharply through the strong support area located between the long-term support level 0.8400 (which has been reversing the price from the end of 2023) and the two support trendline of the weekly down channel from the start of 2023, as can be seen from the weekly USDCHF chart below. The breakout of this support area accelerated the active minor impulse wave 3, which belongs to the sharp downward impulse wave (3) from the start of 2025.
Given the strong multi-month downtrend that can be seen on the daily USDCHF charts and the strongly bearish US dollar sentiment seen today across the FX markets, USDCHF currency pair can be expected to fall further to the next support level 0.8200.
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