EURCHF Wave Analysis – 30 July, 2021

• EURCHF broke support zone

• Likely to fall to support level 1.0740

EURCHF recently broke the support zone lying between the key support level 1.0800 (which stopped the previous impulse wave 1) and the support trendline of the daily down channel from April.

The breakout of this support zone accelerated the active downward impulse waves 3 and (C)).

EURCHF can be expected to fall further toward the next powerful support level 1.0740 (previous monthly low from December and January and the target for the completion of the active wave 3).