• EURCHF broke support zone
• Likely to fall to support level 1.0885

EURCHF currency pair recently broke the support zone lying between the key support level 1.0930 (which has been reversing the price from the start of May) and the 50% Fibonacci correction of the sharp upward impulse form January. The breakout of this support zone accelerated the active short-term impulse wave 3- which is a part of the sharp intermediate downward impulse sequence (C) from the end of April.

Given the strengthening Swiss franc bullishness seen across the currency markets today – EURCHF currency can be expected to fall further toward the next support level 1.0885 (Former major resistance from December and the target for the compel ton of the active impulse wave 3).