• EURCHF reversed from support zone
• Likely to rise to resistance level 1.0450

EURCHF currency pair recently reversed up from the support zone lying between the key support level 1.0315 (which stopped the previous shop downward impulse wave (1) at the end of last month as can be seen from the daily EURCHF chart below) and the lower daily Bollinger Band. The upward reversal from the support level 1.0315 stopped the earlier minor impulse wave 1 and will form the Morning Star today.

Given the strength of the support level 1.0315 and the strongly bearish Swiss franc USD sentiment seen across the FX markets today EURCHF currency pair can be expected to rise further toward the next resistance level 1.0450 (forecast price for the completion of the active wave 2).