CAD/CHF reversed from support zone

CAD/CHF reversed from support zone

2019-11-11 • Updated

  • CAD/CHF reversed from support zone
  • Next buy target - 0.7400

CAD/CHF recently reversed up with the daily Morning Star from the support zone lying between the key support level 0.7250 (which reversed the earlier minor correction 2 in June) and the lower daily Bollinger Band. The upward reversal form this support area started the active impulse wave (3) – which today broke the daily down channel from January. CAD/CHF is expected to rise toward the next buy target at next resistance level 0.7400 (top of the previous wave (iv)).

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