EURCHF Technical Analysis Report 08 December, 2020

  • EURCHF broke key support level 1.0795
  • Likely to fall to 1.0750

EURCHF continues to fall after the earlier breakout of the key support level 1.0795 (which has been reversing the price from the start of November, can be seen from the daily EURCHF chart below) – which coincided with the breakout of the 38.2% Fibonacci correction level of the previous sharp upward impulse 1 from the start of November. The breakout of the support level 1.079 accelerated the active short-term corrective wave 2 from the start of December.

Given the rising bullish Swiss franc sentiment seen across the fx markets today  – EURCHF is expected to fall further toward the next strong support level 1.07500 (former resistance level from the end of October).


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