CAD/CHF reversed from support zone

CAD/CHF reversed from support zone

  • CAD/CHF reversed from support zone
  • Next buy target - 0.7800

CAD/CHF continues to rise after the recent upward reversal from the support zone lying between the major support level 0.7520 (which stopped the previous minor correction (iv) in the middle of July) and 38.2% Fibonacci correction of the previous sharp upward impulse 1 form the start of June. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line. CAD/CHF is expected to rise to next buy target at the next resistance level 0.7800.

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