Technical analysis

EURCHF Wave Analysis 15 January 2024

– EURCHF reversed from support level 0.9300

– Likely to rise to resistance level 0.9400

EURCHF currency pair recently reversed up from the key support level 0.9300 (intersecting with the lower weekly Bollinger Band and the support trendline of the weekly down channel from the start of 2023).

The upward reversal from the support level 0.9300 stopped the previous downward weekly impulse wave (5) from the end of last year.

Given the oversold daily and weekly Stochastic, EURCHF currency pair can be expected to rise further to the next resistance level 0.9400 (former low of wave (3) from last year).

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