Technical analysis

EURCHF Wave Analysis – 18 July, 2022

EURCHF Wave Analysis – 18 July, 2022

• EURCHF reversed from support area

• Likely to rise to resistance level 0.9960

EURCHF currency pair recently reversed up from the support area located between the key support level 0.9850 and the lower daily Bollinger Band.

The upward reversal from this support area started the active minor corrective wave (ii) – which belongs to waves 2 and (2) from June and May respectively.

Given the improving euro sentiment, EURCHF can be expected to rise further toward the next resistance level 0.9960 (former multi-month support from March).

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