EURCHF Wave Analysis 13 January, 2021

• EURCHF reversed from resistance area

• Likely to test next support level 1.0785

EURCHF continues to fall after the price reversed down from the resistance area lying between the resistance level 1.0870 (which has been reversing the price from June) – standing close to the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily reversal pattern Bearish Engulfing.

EURCHF is likely to fall further toward the next support level 1.0785 (low of the previous minor corrective wave (ii)).