EURCHF Wave Analysis – 16 September, 2022

• EURCHF reversed from support level 0.9550

• Likely to rise to resistance level 0.9700

EURCHF currency pair recently reversed up with the daily Hammer from the key support level 0.9550 (which stopped the sharp downtrend in August) intersecting with the lower daily Bollinger Band .

The upward reversal from the support level 0.9550 started the active short-term correction (iv) of waves 5 and (3).

Give the strength of the support level 0.9550, EURCHF can be expected to rise further toward the next resistance level 0.9700.