USDCHF following the dollar index renews the lows. The currency pair breaks through a strong support, which has been holding the price for a long time. What's next?
The dollar index is approaching a strong support zone, from which a pullback might be formed. This maneuver will also influence the forex market. Thus, the currency pair usdchf is headed to the support at 0.90230, where there is a chance of the price bounce to the resistance. The retest will determine the further direction, I stick to the opinion that the price from resistance will continue its decline following the dollar index.
Strong resistance: 0.90850 and 0.91500 (selling is possible on the retest) Key support: 0.90230, 0.90000 and 0.89300 I expect a small pullback from the support levels with further continuation of the fall. Short-term target is support at 0.9000, medium-term target at 0.89300.