EURCHF currency pair under the strong bearish pressure today after the price broke through the powerful long-term support level 1.05000 (which stopped the earlier multi-month downtrend in 2020, as can be seen from the weekly EURCHF chart below). The breakout of this support level 1.05000 accelerated the active intermediate impulse wave (3) from September. Given the strong multi-month downtrend and the combination of the bearish euro and the bullish Swiss franc sentiments, EURCHF currency pair can be expected to fall further toward the next support level 1.04000.
