CADCHF recently reversed up with the daily Morning Star from the support zone lying between the long-term support level 0.72650 (former double bottom from last August) and the lower daily Bollinger Band. The upward reversal from this support zone started the active short-term ABC correction (ii). Given the moderate bullish Canadian dollar sentiment seen across the markets today – CADCHF is likely to extend the gains toward the next resistance level 0.73600 (intersecting with the 38.2% Fibonacci correction of the previous sharp downward impulse (i) from the start of January).