Technical analysis

EURCHF Wave Analysis – 20 March 2023

• EURCHF broke resistance level 0.9850

• Likely to rise to resistance level 1.0000

EURCHF recently broke the resistance level 0.9850 (former support from February) intersecting with the 50% Fibonacci correction of the downward impulse 1 from the start of March.

The breakout of the resistance level 0.9850 accelerated the active short-term correction 2.

Given the strongly bearish Swiss franc sentiment, EURCHF currency pair can then be expected to rise further toward the next round resistance level at parity, 1.0000.

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