EURCHF under the bearish pressure after the recent sharp downward reversal from the resistance area lying between the long-term resistance level 1.10600 (which reversed the price at the end of 2019) and upper daily Bollinger Band. The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star. Given the clear bearish Stochastic divergence – EURCHF currency pair is likely to fall further toward the next support level 1.0900 (former multi-month resistance level from last year).
