CADCHF Wave Analysis 3 February, 2021

• CADCHF broke resistance level 0.7000

• Likely to rise to 0.7050

CADCHF recently broke the key round resistance level 0.7000 – which accelerated the active impulse waves 3 and (C).

Prior to breaking the resistance level 0.7000 – CADCHF broke the daily down channel from the middle of January (which enclosed the pervious ABC correction (b)).

CADCHF currency pair can be expected to rise further toward the next resistance level 0.7050 (pervious monthly high from November and January) – followed by 0.7075 (target for the completion of wave 3).