CADCHF recently broke the resistance area lying between the resistance level 0.7360 and the resistance trendline of the daily down channel from December (which encloses the previous short-term impulse wave C).
The breakout of this resistance area accelerated the active medium-term correction (B) form the end of January.
Given the prevailing bullish Canadian dollar sentiment – CADCHF is likely to rise further toward the next resistance level 0.7450.
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