- EURCHF broke support area
- Further losses are likely
EURCHF recently broke through the support area lying between the key support level 1.1300 and the 61.8% Fibonacci correction of the previous upward impulse from March.
The breakout of this support area accelerated the active short-term impulse wave (iii).
EURCHF is expected to fall further and retest the next support level 1.1180 (which has been reversing the price from last September).