CADCHF Wave Analysis 10 February, 2021

• CADCHF reversed from resistance level 0.7050

• Likely to fall to support level 0.6980

CADCHF recently reversed down from the powerful multi-month resistance level 0.7050 –which reversed all upward impulse waves from November – as can be seen below.

The resistance zone near the resistance level 0.7050 was strengthened by the upper daily Bollinger Band.

CADCHF is likely to fall further in the active minor corrective wave (ii) toward the next support level 0.6980.