• EURCHF reversed from resistance area
• Likely to fall to support level 1.0900
EURCHF currency pair recently reversed down from the resistance area lying between the resistance level 1.0980 and the 61.8% Fibonacci correction of the downward impulse from the middle of May.
The downward reversal from this resistance area stopped the previous intermediate impulse wave (1).
Given the strong euro bearishness – EURCHF currency pair can be expected to fall further toward the next support level 1.0900 (target price for the completion of wave (2)).