CADCHF Wave Analysis – 21 December, 2021

• CADCHF reversed from powerful support level 0.7100

• Likely to rise to resistance level 0.7200

CADCHF currency pair recently reversed up sharply from the powerful support level 0.7100 (which stopped the previous corrective wave (C) in the middle of August).

The support zone near the support level 0.7100 was strengthened by the lower daily Bollinger Band.

CADCHF can be expected to rise further in the active impulse wave (3) toward the next resistance level 0.7200.