EURCHF recently reversed up from the key support level 1.07400 (lower boundary of the narrow sideways price channel inside which the pair has been trading from last month – as can be seen from the daily EURCHF chart below) – strengthened by the lower daily Bollinger Band. Given the moderately bullish euro sentiment seen across the currency markets today – EURCHF is likely to extend the gains toward the next resistance level 1.08350 (top of the previous wave (2) and the upper boundary of the aforementioned sideways price range).