EURCHF currency pair be expected to rise further toward the next resistance level 0.9500
– EURCHF broke resistance level 0.9430
– Likely to rise to resistance level 0.9500
EURCHF currency pair recently broke through the resistance area located between the strong resistance level 0.9430 (which has been reversing the price from the start of September, can be seen from the daily EURCHF chart below) and the 50% Fibonacci correction of the downward impulse from the middle of August. The breakout of this resistance area follows the earlier sharp upward impulse wave from the powerful multi-month support level 0.9300, which has been reversing the price from the end of last year.
Given the strongly bearish Swiss franc sentiment coupled with the widespread euro optimism, EURCHF currency pair be expected to rise further toward the next resistance level 0.9500.
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