• EURCHF under bullish pressure
• Likely to fall to support level 1,0750
EURCHF currency pair under the bearish pressure after the pair broke through the support area located between the key support level 1.080 (low of the previous impulse wave 1) and the support trendline of the daily down channel from the start of March. The breakout of this support area accelerated the active impulse waves 3 and (3).
Given the bullish Swiss franc sentiment as seen across the FX markets today – EURCHF currency pair currency pair can be expected to fall further toward the next support level 1,07500 (former monthly low from December and January and the target price for the completion of the active impulse wave 3).