• EURCHF reversed from support level 1.0975
• Likely to rise to resistance level 1.1090
EURCHF currency pair continues to rise after the earlier upward reversal from the key support level 1.0975 (low of the previous corrective wave 4 from the end of February) standing well below the lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from the start of January. The upward reversal from support level 1.0975 started the active minor correction 2.
Given the strongly bearish sentiment affecting the Swiss franc at the moment – EURCHF currency pair can be expected to rise further in the active minor correction 2 toward the next resistance level 1.1090 (target for the completion of the active correction 2).