Technical analysis

CADCHF Wave Analysis 2 November 2023

– CADCHF broke resistance level 0.6550

– Likely to rise to resistance level 0,6625

CADCHF recently broke through the resistance level 0.6550 (which stopped the pervious minor correction 2 at the end of October, as can be seen below).

The breakout of the resistance level 0.6550 accelerated the active short-term correction 2 from the end of last month.

Given the strong Swiss franc sales and the proximity of the powerful support level 0.6480, CADCHF can be expected to rise further toward the next resistance level 0,6625.

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