Technical analysis

EURCHF Wave Analysis 18 March 2024

– EURCHF under bullish pressure

 – Likely to rise to resistance level 0.968

EURCHF under the bullish pressure after the pair broke the key resistance level 0.9600 (which stopped the previous impulse wave i at the start of March).

The breakout of the resistance level 0.9600 accelerated the C-wave of the active intermediate ABC correction (2) from the end of December.

Given the clear daily uptrend and strong Swiss franc sales, EURCHF currency pair can be expected to rise further toward the next resistance level 0.9685 (earlier monthly high from September and November).

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