• EURCHF reversed from resistance zone
• Likely to fall to support level 1.0900
EURCHF currency pair continues to fall after the earlier sharp downward reversal form the powerful resistance zone lying between the key resistance level 1.1000 (top of the previous wave 4 from the end of May), upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from March. The downward reversal from this resistance zone started the active correction (2).
Given the strongly bullish Swiss franc sentiment seen today – EURCHF currency pair can then be expected to fall further toward the next support level 1.09000 (target for the completion of the active corrective wave (2)).