• EURCHF reversed from support area
• Likely to rise to resistance level 1.100
EURCHF currency pair recently reversed up from the support area located between the support level 1.0930 (which has been reversing the pair from the start of May), lower daily Bollinger Band, 50-day moving average and the 50% Fibonacci correction level of the previous sharp upward impulse from January. The upward reversal from this support area stopped the previous impulse wave 3.
Given the clear daily uptrend and the proximity of the aforementioned support area – EURCHF currency pair can be expected to rise further toward the next resistance level 1.100 (former support from March and April).
