GBP/NZD reversed from resistance zone Next sell target - 1…
CAD/CHF broke resistance level 0.7540
- CAD/CHF broke resistance level 0.7540
- Next buy target - 0.7650
CAD/CHF today broke above the key resistance level 0.7540 (which stopped the previous minor impulse wave (i) at the end of March, as can be seen below). The breakout of the resistance level 0.7540 should add to the bearish pressure on CAD/CHF and accelerate the active minor impulse wave (iii) – which belongs to the sharp C-wave from last month.
CAD/CHF is expected to rise to the next buy target at the resistance level 0.7650 (target price calculated for the termination of the active minor impulse wave (iii)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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