EURCHF Wave Analysis – 6 July, 2022

• EURCHF broke support level 0.9975
• Likely to fall to support level 0.9850

EURCHF recently broke the key support level 0.9975 (former multi-month low from the start of March).

The breakout of the support level 0.9975 continues the clear multi-month downtrend and is aligned with the active impulse waves 3 and (3).

Given the strongly bearish euro sentiment, EURCHF can be expected to fall further toward the next support level 0.9850.