CADCHF currency pair recently reversed down from the resistance zone lying at between the pivotal resistance level 0.73100 (former support which stopped the previous waves 4 and (4) in October and November), 20-day moving average and the 50% Fibonacci retracement of the previous downward ABC correction (2) from the middle of October. The downward reversal from this resistance area created the daily candlesticks reversal pattern Bearish Engulfing. Given the rising Swiss franc bullish sentiment, CADCHF currency pair can be expected to fall further toward the next support level 0.71350 (which has been reversing the price from February).