• CADCHF broke resistance level 0.7450
• Further gains likely toward 0.7550
CADCHF recently broke above the resistance area located between the resistance level 0.7450 (which stopped the previous short-term impulse wave (a) August) and the 50% Fibonacci correction of the previous sharp
downward impulse (i) from the start of July. The breakout this resistance area should accelerate the active shortterm ABC correction (ii) from August.
With the strong bearish sentiment affecting the Swiss Franc today – CADCHF is likely to remain under bullish pressure in the nearest time and extend the gains toward the next resistance level 0.7550 (high of the previous short-term correction (iv) from July and the target price for the completion of the active ABC correction (ii)).
