EURCHF Wave Analysis – 2 June, 2020

• EURCHF broke resistance level 1.0700

• Likely to rise to 1.0785

EURCHF recently broke through the resistance zone lying between the resistance level 1.0700 (monthly high from March) and the resistance trendline of the wide weekly down channel from 2019.

The breakout of this resistance zone accelerated the active short-term impulse wave (c) which belongs to wave 4 from the middle of March.

EURCHF is expected to rise further toward the next resistance level 1.0785 (target price for the completion of the active impulse wave (c)).