CADCHF Wave Analysis – 30 September, 2022

• CADCHF reversed from key support level 0.7100

• Likely to rise to resistance level 0.7185

CADCHF currency pair recently reversed up from the key support level 0.7100 (former multi-month low from December) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 0.7100 stopped the earlier short-term impulse wave 3 from the end of September.

Given the clear bullish divergence on the daily Stochastic indicator, CADCHF currency pair can be expected to rise further toward the next resistance level 0.7185.