Technical analysis

EURCHF Wave Analysis 18 January 2024

– EURCHF broke resistance level 0.9410

– Likely to rise to resistance level 0.9500

EURCHF currency pair recently broke the key resistance level 0.9410 intersecting with the 50% Fibonacci correction of the previous downward impulse from December

The breakout of the resistance level 0.9410 accelerated the active short-term ABC correction 4.

Given the strong Swiss franc sales seen today, EURCHF can be expected to rise further to the next resistance level 0.9500 (target for the completion of the active wave 4).

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