Technical analysis

EURCHF Wave Analysis – 11 July, 2022

EURCHF Wave Analysis – 11 July, 2022

• EURCHF reversed from key resistance level 0.9950

• Likely to fall to support level 0.9870

EURCHF currency pair recently reversed down from the key resistance level 0.9950 (low of the previous minor impulse wave (i) from the end of June).

The downward reversal from the resistance level 0.9950 is aligned with the active impulse waves (iii), 3 and (3).

Given the predominant weekly downtrend, EURCHF can be expected to fall further toward the next support level 0.9870 (low of the earlier Morning Star from the start of this month).

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