EURCHF Wave Analysis 5 June 2024

– EURCHF reversed from support level 0.9675

– Likely to rise to resistance level 0.9800

EURCHF currency pair recently reversed up from the pivotal support level 0.9675 (former resistance from November and strong support from April).

The support level 0.9675 was strengthened by the lower daily Bollinger Band and by the 38.2% Fibonacci correction of the upward impulse from December.

Given the strength of the support level 0.9675 and the oversold daily Stochastic, EURCHF currency pair be expected to rise further to the next resistance level 0.9800.