EURCHF Wave Analysis 5 August 2024

– EURCHF reversed from support level 0.9255

– Likely to rise to resistance level 0.9370

EURCHF currency pair today reversed up from the powerful support level 0.9255, which stopped the weekly downtrend at the end of 2023.

The support level 0.9255 was strengthened by the lower daily and the weekly Bollinger Bands.

Given the oversold daily Stochastic and the strength of the support level 0.9255, EURCHF currency pair can be expected to rise further toward the next resistance level 0.9370.