EURCHF Wave Analysis – 26 December, 2022

• EURCHF reversed from resistance level 0.9920

• Likely to fall to support level 0.9815

EURCHF today reversed down once again from the powerful resistance level 0.9920 (which has been reversing the price from the start of July), intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the sharp downward impulse from June.

The downward reversal from the resistance level 0.9920 stopped the previous short-term ABC correction 2.

Given the predominant daily downtrend, EURCHF can be expected to fall further toward the next support level 0.9815 (which stopped the previous waves a and (ii)).