Market Snapshots

CADCHF Wave Analysis – 08 April, 2020

CADCHF Wave Analysis – 08 April, 2020
  • CADCHF reversed from resistance area
  • Likely to fall to 0.6800

CADCHF recently reversed down from the resistance area located between the key resistance level 0.6900 (which has been reversing the price from the start of March) intersecting with the 38.2% Fibonacci retracement of the pervious sharp impulse wave from February and the lower trendline of the recently broken weekly down channel from 2018.

The downward reversal from this resistance area stopped the C-wave of the earlier (B)-wave from March.

CADCHF is likely to fall further toward the next support level 0.6800 – the breakout of which would lead to further losses toward the next support level 0.6725.

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