• EURCHF reversed from support area
• Likely to rise to resistance 1.0975
EURCHF currency pair recently reversed up from the support area lying between the key support level 1.0975 (which has been reversing the price from the end of February), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse wave from the middle of January. The upward reversal from this support area stopped the previous short-term downward impulse wave 1.
Given the rising bullish euro sentiment – EURCHF currency pair can be expected to rise further toward the next resistance level 1.0975 (former top of the previous waves A and C – as can be seen from the EURCHF chart below).