CADCHF Wave Analysis – 06 February, 2020

• CADCHF reversed from support area
• Likely to rise to 0.7360

CADCHF recently reversed up with the daily reversal pattern Morning Star from the support area lying between the key support level 0.7270 (which reversed the price twice in August) and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term corrective wave (ii).

CADCHF is likely to rise further toward the next resistance level 0.7360 (former support from January and August).