• EURCHF reversed from support area
• Likely to rise to resistance level 1.0820

EURCHF currency pair recently reversed up from the key support area lying between the long-term support level 1.0750 (which has been reversing the price from the start of December) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous impulse wave 3 of the intermediate downward impulse sequence (3) from the start of July.

Given the strength of the aforementioned support area and the strengthening bullish euro sentiment see across the FX markets today, EURCHF currency pair can be expected to rise further toward the next resistance level 1.0820 (former low of the previous impulse wave 1 from the start of July).