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EURCHF recently broke the resistance level 1.08300 (top of the narrow sideways price range inside which the pair has been trading from the middle of July, as can be seen below). The breakout of the resistance level 1.08300 accelerated the C-wave of the medium-term ABC correction (2) from July. Given the powerful bearish sentiment affecting the Swiss franc today – EURCHF is likely to rise further toward the next strong resistance level 1.09000 (top of the previous impulse wave (C) from June).
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