EURCHF currency pair can be expected to rise further toward the next resistance level 0.9665.
– EURCHF broke major resistance area
– Likely to rise to resistance level 0.9665
EURCHF currency pair under the strong bullish pressure after breaking the resistance zone set between the pivotal resistance level 0.9545 (which stopped wave 2 in December) and the 61.8% Fibonacci correction of the previous sharp downward impulse from November. The breakout of this resistance area accelerated the active short-term impulse wave 3 of the intermediate impulse wave (C) from the end of January.
Given the continuation of the bearish Swiss franc sentiment as seen across the FX markets today (on the reversal of the earlier Safe haven flows), EURCHF currency pair can be expected to rise further toward the next resistance level 0.9665 (former resistance from November and the target price for the completion of the active impulse wave 3).
