• EURCHF reversed from support area
• Likely to rise to resistance level 1,0800

EURCHF currency pair recently broke the support area lying between the key long-term support level 1,0735 (which has been reversing the price from December) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous impulse waves 3 and (3).

Given the strength of the aforementioned support area and the strong Swiss franc outflows – EURCHF currency pair can be expected to rise further toward the next resistance level 1,0800 (former support from the start of July – which stopped the previous minor impulse wave 1).