LeoPrime Daily Market Analysis

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CADCHF falling inside wave (iv); Likely to reach support level 0.72300;

CADCHF currency pair continues to fall inside the minor wave (iv), which started earlier from the resistance area located between the key resistance level 0.73250 (monthly high from December), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction (2) from the middle of October. With the strongly bearish Canadian dollar sentient seen across the FX markets today (due to crude oil losses) – CADCHF currency pair can be expected to fall further toward the next support level 0.72300.

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