Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
• EURCHF broke support area
• Likely to fall to 1.0750
EURCHF continues to fall after the pair broke the support area lying between the support level 1.0785 (which has been reversing the price from the middle of November) and the 38.2% Fibonacci correction of the upward impulse 1 from November.
The breakout of this support area accelerated the active short-term corrective wave 2.
EURCHF is expected to fall further toward the next support level 1.0750 (former resistance from October and the target price for the completion of the active wave 2).
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