FX.co ★ blaise.rogahn | USD/CHF

I analyze USD/CHF on the daily timeframe. According to it, the price is in a downward correction after forming a high at the weekly 38.2% (0.8200) Fibonacci retracement resistance level. The pair has fallen and if you build a retracement on the last upward wave, then USD/CHF on this tool will already drop to the 38.2% level. The final target is the key 61.8% support at 0.7950. I expect a decline to it, but I’m also interested in the moves that may occur during the correction. There is a possibility that the price will form an internal pattern. One pattern already won’t work out, we didn’t reach the required resistance. It’s possible that it will be better and they will push it up from 50% to 23.6%, but that’s not guaranteed of course. Overall, the key target is 61.8% and the MA200 also comes in there, so I’m forecasting a reversal.