CADCHF currency pair recently reversed down from the key resistance level 0.77900 (which stopped the previous sharp upward impulse wave in the middle of May), strengthened by the upward daily Bollinger Band. The downward reversal from this resistance level started the active short-term corrective wave (ii). Given the strength of the resistance level 0.77900 and the continued bearish Canadian dollar sentiment seen across the FX markets today, CADCHF currency pair can be expected to fall further toward the next support level 0.76500.
CADCHF reversed from resistance level 0.77900; Likely to fall to support level 0.76500.
