EURCHF Wave Analysis – 14 May, 2020

• EURCHF approached key support level 1.050

• Likely to fall to 1.0450

EURCHF today reached the key support level 1.050 (former monthly low from April) – which also earlier reversed the pair at the start of May.

The subsequent price action will depend on whether the pair will be able to break below this price level.

If the price breaks below the support level 1.050 – EURCHF can then expected to fall toward the next support level 1.0450. In the opposite case the pair will retest the resistance at 1.0550.