CADCHF is currently trading close to the key support area lying between the support level 0.7400 (which stopped the previous impulse wave (1)), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction from August to November.
The price earlier reversed up sharply from the support level 0.7400 – signalling the strength of this price level.
CADCHF is likely to correct up from the current levels toward the next resistance level 0.7485 (top of the previous waves 2 and (ii)).
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