CADCHF Wave Analysis – 24 April 2023

• CADCHF broke key support level 0.6600

• Likely to fall to support level 0.6535

CADCHF currency pair under the bearish pressure after the price broke the key support level 0.6600 (which stopped the previous impulse waves 1 and (3)).

The breakout of the support level 0.6600 accelerated the active impulse wave 3 which belongs to the intermediate impulse wave (5) from the start of April.

Given the strong daily downtrend and bullish Swiss franc sentiment, CADCHF can be expected to fall further toward the next support level 0.6535.