Technical analysis

EURCHF Wave Analysis – 14 March 2023

• EURCHF reversed from support level 0.9725

• Likely to rise to resistance level 0.9850

EURCHF recently reversed up from the support area located between the support level 0.9725 (which reversed the price in November) standing well below the lower daily Bollinger Band.

The support level 0.9725 was further strengthened by the support trendline of the daily down channel from January.

Given the oversold daily Stochastic, EURCHF can be expected to rise further toward the next resistance level 0.9850 (former double bottom from the middle of February).

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