CADCHF Wave Analysis 12 December 2023

– CADCHF reversed from resistance level 0.6490

– Likely to support level 0.6410

CADCHF currency pair recently reversed down from the strong resistance level 0.6490 (former strong support from October) intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 0.64879 stopped the previous minor correction ii.

Given the predominant daily downtrend, CADCHF currency pair can be expected to fall further to the next support level 0.6410 (low of the previous impulse wave i).