• EURCHF reversed from support area
• Likely to rise to 1.0780
EURCHF recently reversed up from the support area located between the key support level 1.0730 (lower boundary of the sideways price range from July) and the lower daily Bollinger Band.
The support zone near the support level 1.0730 was further strengthened by the 50% Fibonacci correction of the upward impulse from July.
EURCHF is likely to rise further toward the next resistance level 1.0780 (midpoint of the aforementioned sideways price range).
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