CAD/CHF reversed from multi-month resistance level 0.7870

CAD/CHF reversed from multi-month resistance level 0.7870

  • CAD/CHF reversed from multi-month resistance level 0.7870
  • Next sell target - 0.7720

 CAD/CHF recently reversed down from the major, multi-month resistance level 0.7870 (which has reversed the price multiple times in the last few months, as can be seen below). The downward reversal from this resistance level created the daily Japanese candlesticks reversal pattern Bearish Engulfing. CAD/CHF is expected to fall further toward the next sell target at the next support level 0.7720 (top of the pervious wave A from April).

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