EURCHF currency pair today reversed down from the resistance zone lying at the intersection of the pivotal resistance level 1.04500 (which reversed the price at the end of November) and the 20-day moving average. The downward reversal from this resistance area stopped the previous short term corrective wave 4. Given the prevailing daily downtrend and the renewed Swiss franc inflows, EURCHF currency pair can be expected to fall further toward the next support level 1.03750 (which stopped the previous short-term impulse wave 3).
