EURCHF Wave Analysis – 30 May 2023

• EURCHF reversed from support zone

• Likely to rise to resistance level 0.9750

EURCHF currency pair recently reversed up from the support zone located between the key support level 0.9675 (which has been reversing the pair from last October).

The support level 0.9675 was strengthened by the lower daily Bollinger Band and by the support trendline of the daily down channel from January.

Given the oversold daily Stochastic and the strength of the nearby support zone, EURCHF can be expected to rise toward the next resistance level 0.9750.