• EURCHF broke key support level 1.0870
• Likely to fall to support level 1.0785
EURCHF currency pair recently broke the key support level 1.0870, which stopped the previous short-term impulse wave 1 in June, as can be seen from the daily EURCHF chart below. The breakout of this support zone accelerated the active impulse waves 3 and (C).
Given the strongly bullish Swiss franc sentiment seen across the FX markets today – EURCHF currency pair can be expected to fall further toward the next round support level 1.0785 (former low from February and the target price for the completion of the active impulse wave (C)).