LeoPrime Daily Market Analysis

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CADCHF reversed from support 0.74650; Likely to rise to resistance level 0.75550.


CADCHF currency pair recently reversed up with the daily Piercing Line from the support area located between the support level 0.74650, 20-day moving average and the 50% Fibonacci correction of the upward price impulse (1) from the end of June. The upward reversal from this support area started the active intermediate impulse wave (3). Given the strength of the aforementioned support zone and the strong bullish uptrend, CADCHF currency pair can then be expected to rise further toward the next resistance level 0.75550 (which stopped the previous waves (1) and B).

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