Categories: Technical analysis

CADCHF Wave Analysis 23 October 2023

– CADCHF reversed from support level 0.6480

– Likely to rise to resistance level 0.6550

CADCHF currency pair recently reversed up from the powerful support level 0.6480 (which has been reversing the pair from July) coinciding with the lower daily Bollinger Band.

The upward reversal from the support level 0.6480 stopped the previous sharp downward impulse wave 3.

Given the strength of the support level 0.6480 and the oversold daily Stochastic, CADCHF can be expected to rise further toward the next resistance level 0.6550.

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: CADCHF

Recent Posts

Brent crude oil Wave Analysis 17 May 2024

- Brent crude oil reversed from key support level 81.00 - Likely to test resistance…

2 days ago

Silver Wave Analysis 17 May 2024

- Silver broke multi-year resistance level 29.50 - Likely to reach resistance level 32.00 Silver…

2 days ago

The dollar index clings to the uptrend

The US dollar is not giving up without a fight, gaining for the second day…

2 days ago

After surpassing $30, silver may aim for $50

Silver climbed above $29.8, rewriting the highs from January 2021, but once again faced selling…

3 days ago

The crypto market is ready to grow further

Market picture The crypto market cooled off on Thursday afternoon, but on Friday morning, buyers…

3 days ago

Amazon Wave Analysis 16 May 2024

- Amazon reversed from resistance level 190.00 - Likely to fall to support level 180.00…

3 days ago

This website uses cookies