CADCHF Wave Analysis – 18 March, 2022

• CADCHF reversed from resistance level 0.7420
• Likely to fall to support level 0.7350

CADCHF recently reversed down from the pivotal resistance level 0.7420 (previous monthly high from November), intersecting with the upper daily Bollinger Band.

The downward reversal from the resistance level 0.7420 stopped the previous impulse waves (iii), (c).

CADCHF can be expected to fall further toward the next support level 0.7350 (former key resistance level from January).