EURCHF has broken the top level of the Descending channel and now the market is retesting the broken channel line.
In another view, EURCHF is at the higher low level of an Uptrend line in the daily timeframe chart.
EURCHF reached the SL price Reason: EURCHF has broken the recent lows with immediate sellers pressure due to unemployment rate change.
EURCHF is trying to break the higher low zone + Retesting the major support zone. However the breakout is not yet confirmed. But this higher low breakout attempt makes the market to reach the SL price. Reason: EURCHF has broken the recent lows with immediate sellers pressure due to unemployment rate change in Switzerland. Fundamentals drags the market down faster in short time. However, Technically EURCHF is still standing at the Major support zone (Old broken resistance acting now as a new support zone).