Categories: Technical analysis

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.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: EURCHF

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