USDCHF recently broke the support area lying between the key support level 0.95000 (low of the impulse wave 1 from the end of March) and the 50% Fibonacci correction of the previous sharp ABC correction (B) from the start of March. The breakout of this support area accelerated the active impulse wave (iii). Given the strongly bearish US dollar sentiment seen across the markets today – coupled with the rising bullishness toward the Swiss franc, USDCHF is likely to extend the losses toward the next support level 0.94000 (low of B-wave from March and the target for the completion of the active wave (iii)).