EURCHF Wave Analysis 16 March, 2021

• EURCHF broke support level 1.1030

• Likely to reach support level 1.0955

EURCHF currency pair recently broke the support level 1.1030 (low of the previous correction (a)) – standing near the 61.8% Fibonacci correction level of the previous upward impulse wave (v) from last month.

The breakout of the support level 1.1030 accelerated the active short-term impulse wave (c) of the ABC correction 4 from the start of March.

EURCHF is likely to fall further toward the next support 1.0955 (low of wave (iv) and the target for the completion of the active wave 4).