Euro franc has tested the low of 0.98100

Euro franc has tested the low of 0.98100 and returns to its corrective channel between the levels of 0.98100 and 0.99500 again. Moreover, having reached the resistance at 0.98800, the currency pair has lost its momentum and is now trading slightly below this level. I see that the MACD signal line on the 4 hour chart is pointing to further upside movement. If this fact is confirmed on the 1 hour chart by a break of the EMA 200 line at 0.98800, then I expect a rise to the key level of 0.99500, and the longest possible break above, as a double bottom pattern is formed. If the advance is not continued, then what I see as initial key support is 0.98100 and further decline will depend on its impact.