Market Snapshots

CADCHF reversed from resistance area

CADCHF reversed from resistance area
  • CADCHF reversed from resistance area
  • Further losses are likely

CADCHF recently reversed down from the resistance area lying between the strong resistance level 0.7600 (which has been reversing the price from January) and the upper weekly Bollinger Band.

The downward reversal from this resistance area stopped the earlier short-term corrective wave (ii) from the end of June.

CADCHF is expected to falll further and retest the next support level 0.7500.

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