Technical analysis

EURCHF Wave Analysis – 5 January, 2022

EURCHF Wave Analysis – 5 January, 2022

• EURCHF reversed from support zone

• Likely to rise to resistance level 1.040

EURCHF currency pair recently reversed up from the support zone lying at the intersection of the key support level 1.0335 (which stopped the previous minor impulse wave 1) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier short-term impulse waves 3 and (3).

Given the strength of the aforementioned support zone – EURCHF currency pair can be expected to rise further toward the next resistance level 1.040.

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