LeoPrime Daily Market Analysis

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CADCHF reversed from 0.75650 resistance area; Likely to fall to 0.7500

 

CADCHF recently reversed down from the resistance area located between the key resistance level 0.7565 (which stopped the previous waves (a) and 2) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous short-term correction (ii). With the moderate bullish sentiment affecting Swiss Franc at the moment – CADCHF is expected to fall toward the next support level 0.7500 (intersecting with the 50% Fibonacci correction of the previous downward impulse (i) from the start of October).

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