Technical analysis

CADCHF Wave Analysis – 7 March, 2022

CADCHF Wave Analysis – 7 March, 2022

• CADCHF reversed from support area
• Likely to rise to resistance level 0.7300

CADCHF continues to rise after the earlier reversal from the support area located between the key support level 0.7200, lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward wave 2 from December.

The upward reversal from this support area will most likely form the daily Bullish Engulfing.

CADCHF can be expected to rise further toward the next resistance level 0.7300 (which has been reversing the pair from last month).

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