CADCHF: ⬆️ Buy
– CADCHF reversed from key support level 0.5800
– Likely to rise to resistance level 0.5885
CADCHF currency pair recently reversed up from the support zone between the key support level 0.5800 (which has been reversing the price from the start of October, stopping waves (A) and B), the lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the start of July.
The upward reversal from this support zone stopped the previous short-term downward impulse from the top of wave (B).
Given the strength of the support level 0.5800 and the clear daily uptrend, CADCHF currency pair can be expected to rise further toward the next resistance level 0.5885 – which has been reversing the price from the start of September.