LeoPrime Daily Market Analysis

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CADCHF reversed from support zone; Likely to rise to resistance level 0.74150.

CADCHF currency pair continues to rise after the price reversed up from the support zone lying between the pivotal support level 0.73200 (which has been reversing the price from the start of September, as can be seen from the daily CADCHF chart below), lower daily Bollinger band and the 38.2% Fibonacci correction of the upward impulse 1 from August. The upward reversal from this support zone stopped the previous minor ABC correction (b). Given the strength of the aforementioned support zone, CADCHF currency pair can be expected to rise further toward the next resistance level 0.74150 (top of wave (a) from the middle of this month)

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