CADCHF Wave Analysis – 11 June, 2020

• CADCHF falling inside wave 2

• Likely to fall to 0.6915

CADCHF continues to fall inside the sharp downward correction 2, which started earlier from the resistance area lying between the resistance level 0,7200 and the resistance trendline of the narrow daily up channel from the middle of March.

The price just broke the support trendline of the aforementioned daily up channel – which should strengthen the bearish pressure on this currency pair.

CADCHF is likely to fall further toward the next support level 0,6915 (former support from the end of May and the target for the completion of the active wave 2).