LeoPrime Daily Market Analysis

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CADCHF rising inside impulse wave support level 0.74800; Likely to reach resistance level 0.76850.


CADCHF currency pair recently reversed up from the key support level 0.74800 (which stopped wave (a) at the end of April), intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the upward price impulse from February. The upward reversal from support level 0.74800 continues the active daily uptrend. Given the clear daily uptrend and bullish Canadian dollar sentiment seen across the currency markets today , CADCHF currency pair can be expected to rise further in the active impulse wave 5 toward the next resistance level 0.76850 (which has been reversing the price from the start of May).

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