• 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.
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