EURCHF Wave Analysis – 16 April, 2020

• EURCHF broke key support level 1.0525
• Likely to fall to 1.0455

EURCHF recently broke below the key support level 1.0525 (which stopped the earlier sharp downtrend in March).

The breakout of the support level 1.0525 is aligned with the active downward impulse sequence 3 – which continues the overriding downtrend that can be seen on the daily EURCHF charts.

EURCHF is expected to fall further toward the next support level 1.0455 (target price for the completion of the active minor impulse wave (iii))