USDCHF Wave Analysis 20 January 2025

– USDCHF reversed from the resistance zone

– Likely to fall to support level 0.9000

USDCHF currency pair recently reversed from the resistance zone located between the key multi-month resistance level 0.9185 (which stopped the daily uptrend last April), the resistance trendline of the daily up channel from September and the upper daily Bollinger Band.

The downward reversal from this resistance zone created the daily Evening Star, which stopped the previous sharp upward impulse sequence (C) from December.

USDCHF currency pair can be expected to fall to the next round support level 0.9000, the former resistance from December.

Source: https://fxpro.news