Categories: Technical analysis

EURCHF Wave Analysis – 18 July 2023

– EURCHF reversed from resistance level 0.9675

– Likely to fall to support level 0.9600

EURCHF currency pair recently reversed down from the key resistance level 0.9675 (former multi-month support May and June).

The downward reversal from the resistance level 0.9675 stopped the previous minor correction (ii) forming the daily Evening Star.

Given the prevailing downtrend, EURCHF can be expected to fall further toward the next support level 0.9600 (low of the previous minor impulse wave iii).

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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