EURCHF Wave Analysis – 20 March 2023
March 20, 2023 @ 13:26 +03:00
• 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.