• EURCHF reversed from resistance area
• Likely to fall to support level 1.0930
EURCHF recently reversed down from the resistance area lying between the strong resistance level 1.0980 (former monthly low from April) and the 38.2% Fibonacci correction of the previous downward impulse from last month.
The downward reversal from this resistance area stopped the previous short-term corrective wave 2.
EURCHF is likely to fall toward the next support level 1.0930 (low of the previous minor impulse wave 1 from the start of May).