CADCHF Wave Analysis – 05 December, 2019

• CADCHF reversed from support area
• Likely to rise to 0.7530

CADCHF recently reversed up from the support area lying between the support level 0.7440 (which has been reversing the price from September), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse (1) from August.

The upward reversal from this support area stopped the previous short-term impulse wave C.

CADCHF is expected to rise further toward the next resistance level 0.7530 (top of the previous waves (a) and B).