Technical analysis

CADCHF Wave Analysis – 13 August, 2021

• CADCHF reversed from resistance area

• Likely to fall to support level 0.7280

CADCHF currency pair today reversed down from the resistance area lying between the key resistance level 0,7365 (former monthly low from June, top of the previous wave 4), intersecting with the upper daily Bollinger band and the 61,8% Fibonacci correction of the downward wave (C) from June.

The downward reversal from this resistance area stopped the previous intermediate impulse wave (3).

CADCHF currency pair can be expected to fall further toward the next support level 0.7280 (former top of wave B from the end of July).

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