Categories: Technical analysis

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).

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.

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The FxPro Tech Analysis Team
Tags: CADCHF

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