Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURCHF reversed from key resistance level 1.0835
• Likely to fall to 1,0735
EURCHF recently reversed down from the key resistance level 1.0835 (monthly high from June) – standing near the upper daily Bollinger band.
The downward reversal from the resistance level 1.0835 stopped the previous medium-term corrective wave (2).
Given the strongly bearish euro sentiment seen today – EURCHF is likely to fall further toward the next support level 1,0735 (low of the daily Hammer from the end of June).
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