Technical analysis

EURCHF Wave Analysis 22 December 2023

– EURCHF reversed from support level 0.9410

– Likely to rise to resistance level 0.9500

EURCHF recently reversed up from the key support level 0.9410 (former monthly low from October) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.9410 stopped the previous short-term impulse wave 3.

Given the strength of the support level 0.9410 and the bullish divergence on the daily Stochastic, EURCHF can be expected to rise further to the next resistance level 0.9500.

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