• EURCHF rising inside impulse wave (iii)
• Likely to reach resistance level 1.0825
EURCHF currency pair continues to rise inside the short-term upward impulse sequence (iii) which started earlier with the daily Morning Star from the key support level 1.0745 (former monthly low from December and the strong resistance level from the end of October), standing near the lower daily Bollinger Band and the 61.8% Fibonacci correction level of the previous upward price move from November.
Given the medium-term uptrend and the wide spread bearish Swiss franc sentiment after Moderna reported its COVID-19 vaccine is expected to be protective against emerging Covid-19 strains detected to date. EURCHF currency pair is expected to rise further toward the next resistance level 1.0825.