EURCHF Wave Analysis 28 August 2024

• EURCHF broke support level 0.9400
• Likely to fall to support level 0.9250

EURCHF currency pair is falling inside the minor impulse wave iii which started earlier from the pivotal resistance level 0.9550 (former support from April).

The pair today broke the support level 0.9400 – which should add further pressure on this currency pair.

Given the clear daily downtrend and strongly bearish euro sentiment, EURCHF currency pair can then be expected to fall to the next support level 0.9250 (which stopped two sharp downward impulse waves in January and August).