Categories: Technical analysis

CADCHF Wave Analysis – 5 May 2023

  

• CADCHF broke resistance level 0.6600

• Likely to rise to resistance level 0.6715

CADCHF currency pair recently broke the resistance level 0.6600 (which stopped the previous short-term correction (ii)).

The breakout of the resistance level 0.6600 coincided with the breakout of the 38.2% Fibonacci correction of the previous downward impulse from April.

Given strongly bullish CAD sentiment on sharp oil gains, CADCHF can be expected to rise further toward the next resistance level 0.6715 (top of wave (b) from the middle of April).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: CADCHF

Recent Posts

Bitcoin Cash Wave Analysis – 12 January 2026

Bitcoin Cash: ⬇️ Sell - Bitcoin Cash reversed from resistance area - Likely to fall…

6 hours ago

EURJPY Wave Analysis – 12 January 2026

EURJPY: ⬆️ Buy - EURJPY reversed from support area - Likely to rise to resistance…

6 hours ago

Gold shines on an anti-fiat thesis

The dollar suffered due to threats to the Fed’s independence. Gold managed to renew its…

16 hours ago

SP500 Current situation #trading #tradelikeapro #sp500 #tradingshorts #tradingstrategy

Today is Monday, the 12th of January, and once again we will talk about the…

17 hours ago

Crypto: sell-the-growth continues

Crypto markets remain volatile; Bitcoin faces selling pressure, XRP slips, Monero surges, and market signals…

18 hours ago

CHFJPY Wave Analysis – 9 January 2026

CHFJPY: ⬆️ Buy - CHFJPY reversed from support area - Likely to rise to resistance…

3 days ago

This website uses cookies