LeoPrime Daily Market Analysis

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USDCHF broke key support level 0.92600; Likely to fall to support level 0.91600.

USDCHF currency pair recently broke the key support level 0.92600 (which has been reversing the price from the start of March), intersecting with the 61.8% Fibonacci correction of the upward impulse (iii) from the start of march. The breakout of the support level 0.92600 accelerated the active short-term ABC correction (iv). Given the rising bullish swiss franc sentiment that can be seen on the FX markets today – USDCHF currency pair can be expected to fall further toward the next support level 0.91600 (which has been reversing the price from the end of February).

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