LeoPrime Daily Market Analysis

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USDCHF reversed from resistance area; Likely to fall to support level 0.89300.

USDCHF currency pair recently reversed up from the resistance area located between the key resistance level 0.90500  (which has been reversing the pair from the middle of May), upper daily Bollinger Band and the 50.5 Fibonacci correction level of the previous onward impulse from the start of Ma . The downward reversal from this resistance area stopped the previous minor ABC correction (ii). Given the powerful Swiss franc bullishness seen today – USDCHF currency pair can be expected to fall further toward the next support level 0.89300 (former monthly low from May).

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