EURCHF Wave Analysis – 26 June, 2020

• EURCHF broke support zone

• Likely to fall to 1.0580

EURCHF recently broke below the support zone lying between the pivotal support level 1.0650 (which stopped the previous impulse wave (1)) and the 61.8% Fibonacci retracement of the previous ABC correction (C) from the middle of May.

The breakout of this support zone continues the active medium-term impulse sequence (3) from the middle of June. EURCHF is likely to fall further toward the next support level 1.0580 (low of the previous corrective wave (B) from May).