• EURCHF reversed from support zone
• Likely to rise to resistance level 1.0435
EURCHF currency pair recently reversed up from the support area lying between the key support level 1.0320 (which stopped the pair at the end of of December as can be seen from the daily EURCHF chart below), lower daily Bollinger Band and the support trendline of the weekly down channel from last March. The upward reversal from this support area created the daily candlesticks reversal pattern Morning Star.
Given the strength of the aforementioned support area and the rising Swiss franc outflows seen across the FX markets today – EURCHF currency pair can be expected to rise further toward the next resistance level 1.0435 (which has been reversing the price from the start of December).