EURCHF Wave Analysis – 29 October, 2021

• EURCHF broke support levels – 1.0660 and 1.0600

• Likely to fall to support level 1.0500                                                                        

EURCHF continues to fall after the price broke through the two multi-month support levels – 1.0660 (multi-month low from November) and 1.0600 (former monthly low form July of 2020).

The breakout of these support levels accelerated the active intermediate impulse wave (3).

Given the clear daily downtrend, EURCHF currency pair can be expected to fall further toward the next support level 1.0500 (former support from the middle of 202 and the target for the completion of impulse wave (3)).