EURCHF Wave Analysis – 17 August, 2021

• EURCHF broke support level 1.0740

• Likely to fall to support level 1.0670

EURCHF currency pair recently broke the key support level 1.0740 (previous monthly low from December and January).

The breakout of the support level 1.0740 accelerated the active impulse waves 3 and (C) – which belong to the higher-order ABC correction from March.

EURCHF currency pair can be expected to fall further toward the next support level 1.0670 (previous multi-month low from November and the the target for the completion of wave 2).