Technical analysis

EURCHF Wave Analysis 14 June 2024

– EURCHF broke key support level 0.9565

– Likely to fall to support level 0.9450

EURCHF recently broke below the key support level 0.9565, which stopped wave B in April, as can be seen from the daily EURCHF chart below.

The breakout of the support level 0.9565 coincided with the breakout of the 50% Fibonacci correction of the previous upward impulse from December.

Given the strongly bullish Swiss franc sentiment seen across the FX markets today, EURCHF can be expected to fall further to the next support level 0.9450, target for the completion of the active correction (B).

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