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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: CADCHF

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