CADCHF Wave Analysis – 6 December, 2021

• CADCHF reversed from support level 0.7130

• Likely to rise to resistance level 0.7250

CADCHF currency pair recently reversed up from the powerful support level 0.7130 (which has been reversing the price from February) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.7130 stopped the previous short-term impulse C of the ABC correction (2) from October.

Given the oversold daily Stochastic – CADCHF can be expected to rise further toward the next resistance level 0.7250.