Will the CHF bounce back down from the resistance?
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
EUR/USD: 'High Wave' points to decline
There's a bearish 'High Wave', which hasn't been confirmed yet. So, the market is likely going to test the 34 Moving Average. If a pullback from this line happens next, bulls will probably try to reach another resistance at 1.1633.
We've got a 'High Wave', so the price is declining. The main intraday target is the next support at 1.1633. This level could be a departure point for a bullish rally, so we could have a new high soon.
Galya Svetlova
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