Categories: 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.

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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Tags: EURCHF

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