CAD/CHF reversed from resistance zone

CAD/CHF reversed from resistance zone

  • CAD/CHF reversed from resistance zone
  • Next sell target - 0.7230

CAD/CHF recently reversed down with the daily Bearish Engulfing from the resistance zone lying between the key resistance level 0.7400 (which stopped the previous minor correction 4 in February, as can be seen from the daily CAD/CHF chart below), 30-day moving average and the 61.8% Fibonacci correction of the previous downward impulse from February. CAD/CHF is likely to fall toward the next sell target at the next support level 0.7230 (low of the previous wave (C)).

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