EURCHF Wave Analysis – 21 February, 2022

• EURCHF broke support area

• Likely to fall to support level 1.0320.

EURCHF currency pair recently broke the support area located between the key support level 1.0430 (former top of wave A from the end of January) and the 50% Fibonacci correction of the previous ABC correction (4).

The breakout of this support area accelerated the active intermediate impulse wave (5).

Given the clear daily downtrend – EURCHF currency pair can be expected to fall further toward the next key support level 1.0320 (which has been reversing the price from the end of December).