EUR/CHF reversed from support zone

EUR/CHF reversed from support zone

2019-11-11 • Updated

  • EUR/CHF reversed from support zone
  • Next buy target - 1.1530

EUR/CHF earlier reversed up twice from the support zone lying at the intersection of the key support level 1.1280 and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of June. The upward reversal form this support zone is aligned with the active intermediate impulse wave (3) – which belongs to the primary upward impulse Ⓒ from last year. With the daily momentum near yearly highs - EUR/CHF is expected to rise to next buy target at the next resistance level 1.1530.

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