EURCHF Wave Analysis 18 January, 2021

• EURCHF reversed from pivotal support level 1.0740

• Likely to rise to 1.0785

EURCHF today reversed up from the pivotal support level 1.0740 (former resistance from October and the monthly low from December) standing well below the lower daily Bollinger Band.

The support level 1.0740 coincided with the 61.8% Fibonacci correction of the upward price impulse from the November – which strengthened this price level.

EURCHF is expected to rise further toward the next resistance level 1.0785 (former resistance from the start of January).