Categories: Technical analysis

CADCHF Wave Analysis – 30 September, 2022

• CADCHF reversed from key support level 0.7100

• Likely to rise to resistance level 0.7185

CADCHF currency pair recently reversed up from the key support level 0.7100 (former multi-month low from December) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.7100 stopped the earlier short-term impulse wave 3 from the end of September.

Given the clear bullish divergence on the daily Stochastic indicator, CADCHF currency pair can be expected to rise further toward the next resistance level 0.7185.

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.

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The FxPro Tech Analysis Team
Tags: CADCHF

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