LeoPrime Daily Market Analysis

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EURCHF reversed from long-term support level 0.99700; Likely to rise to resistance level 1.01000.

EURCHF currency pair recently reversed up with the daily long-legged Doji from the key longterm support level 0.99700 (the previous monthly low from March), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 0.99700 stopped the earlier impulse waves 3 and (3). Given the strength of the aforementioned support level 0.99700 , strongly bearish swiss franc sentiment seen across teh FX markest today, EURCHF currency pair can be expected to rise further toward the next resistance level 1.01000 (former support from April).

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