USDCHF currency pair recently broke below the key support level 0.91150 (which stopped the previous wave (a) earlier this month) intersecting with the 50% Fibonacci correction of the previous sharp upward impulse 1 from the end of May. The breakout of the support level 0.91150 accelerated the active short-term impulse wave (c) of the ABC correction 2 from the start of July. Given the strongly bearish U.S dollar sentiment seen across the FX markets today – USDCHF currency pair can be expected to fall further toward the next support level 0.90500 (target for the completion of the active ABC correction 2).
USDCHF broke key support level 0.91150; Likely to fall to support level 0.90500
