Hello dear friends, USDCHF is continuing its long-term downward trend as the descending trendline remains unbroken and prices have been pushed lower following the release of US inflation news yesterday, causing a decline in the value of the USD.
The price is currently fluctuating around the 0.8888 level, surpassing the support level at 0.89. A new support level is being established at 0.8885, and it may be a good opportunity to place a buy order at this point as it could potentially be a corrective wave after the price has recently broken out and retested the EMA 34,89.
The price is currently fluctuating around the 0.8888 level, surpassing the support level at 0.89. A new support level is being established at 0.8885, and it may be a good opportunity to place a buy order at this point as it could potentially be a corrective wave after the price has recently broken out and retested the EMA 34,89.
