Technical analysis

CADCHF Wave Analysis 28 September 2023

– CADCHF reversed from resistance level 0.6815

– Likely to fall to support level 0.6750

CADCHF currency pair recently reversed down from the strong resistance level 0.6815 (which previously reversed the price multiple times in June) standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 0.6815 stopped the C-wave of the active ABC correction (2) from August.

Given the strongly overbought daily Stochastic and the strength of the resistance level 0.6815, CADCHF currency pair can be expected to fall further toward the next support level 0.6750.

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