LeoPrime Daily Market Analysis

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CADCHF broke resistance level 0.74000; Likely to reach resistance level 0.75000

CADCHF currency pair recently broke the resistance level 0.74000 (which stopped the previous sharp upward impulse wave (i) at the start of March). The breakout of the resistance level 0.74000 accelerated the active shortterm impulse wave 5 – which belongs to the medium-term upward impulse sequence (3) from the middle of December. Considering the continuation of the safe-haven outflows from the Swiss franc amid global vaccination programmes – CADCHF currency pair can be expected to rise further toward the next resistance level 0.75000 (target price for the completion of the active impulse wave (3), intersecting with the up channel from the start of February).

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