EURCHF recently reversed down sharply from the resistance area lying between the key resistance level 1.06500 (which has been reversing the price from the start of March) and the upper daily Bollinger Band. The downward reversal from this resistance area created the daily candlesticks reversal pattern Shooting Star. Given the strength of the aforementioned resistance area, strong daily downtrend and the rising bullish Swiss franc sentiment seen today – EURCHF is expected to fall further toward the next support level 1.05500 (former resistance from the start of May).