EUR/CHF continues to fall after the recent breakout of the daily up channel from March. The breakout of this up channel was preceded by the reversal from the strong resistance zone (which has been reversing EUR/CHF from Marchas you can see below) lying between the resistance levels 1.2220 and 1.2250.
The latest downward reversal from this resistance zone completed the previous intermediate ABC correction (2). EUR/CHF is set to fall further inside the currently active impulse wave (3) toward the next sell target at 1.2140 – followed by 1.2120.
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