Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURCHF broke key resistance level 1.0785
• Likely to rise to 1.0815
EURCHF continues to rise after the pair broke the key resistance level 1.0785 (which has been reversing the pair from the start of January).
The price earlier reversed up from the key support level 1.0740 (monthly low from December) – which was strengthened by the lower daily Bollinger Band.
Given the medium strength uptrend that can be seen on the daily charts – EURCHF is expected to rise further toward the next resistance level 1.0815.
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