Categories: Technical analysis

CADCHF Wave Analysis – 16 June, 2022

• CADCHF broke support level 0.7600
• Likely to fall to support level 0.7550

CADCHF currency pair recently broke the key support level 0.7600 and the 61.8% Fibonacci correction of the upward wave (B) from May.

The breakout of the support level 0.7600 should accelerate the active impulse waves 1 and (C).

CADCHF currency pair can be expected to fall further toward the next support level 0.7550 (low of wave B from the start of June).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: CADCHF

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