CADCHF Wave Analysis – 3 March, 2022

• CADCHF reversed from resistance level 0.7300
• Likely to fall to support level 0.7250.

CADCHF currency pair recently reversed down from the pivotal resistance level 0.7300 (which has been reversing the pair from the start of February).

The resistance zone near the resistance level 0.7300 was strengthened by the upper daily Bollinger Band and by the 61.8% Fibonacci correction of the previous downward impulse from the start of January.

Given the CAD outflows (on oil losses) – CADCHF can be expected to fall further toward the next support level 0.7250.