CADCHF under bearish pressure after the earlier breakout of the multi-month support level 0.7270 – which was followed by the breakout of the support trendline of the daily down channel from October.
Both of the above support breakouts were aligned with the prevailing downtrend visible on the daily CADCHF charts.
CADCHF is likely to fall further toward the next support level 0.7100 (target price for the completion of the active impulse wave 3).
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