CADCHF recently reversed up with the daily Bullish Engulfing from the support area lying between the key support level 0.74400 (which has been steadily reversing the price from September), 50% Fibonacci correction of the previous impulse wave (1) and the lower daily Bollinger Band. Given the moderate bullish Canadian dollar sentiment seen across the markets today – CADCHF is likely to remain under the bullish pressure and to rise toward the next resistance level 0.74500 (top of the previous short-term correction B).