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CADCHF Technical Analysis Report 27 May, 2021

bank of canada, financial, Canadians, cash, rate, markets, operations

• CADCHF reversed from support area
• Likely to rise to resistance level 0.7520

CADCHF currency pair recently reversed up from the support area located between the support level 0.7400 (former resistance from April, which has been reversing the price from the strait of March), 50% Fibonacci correction of the upward impulse from and April the lower daily Bollinger Band. The upward reversal from this support area is aligned with the multi-month uptrend.

Given the rising bullish sentiment affecting the Canadian dollar today – CADCHF currency pair can be expected to rise further toward the next resistance level 0.7520 (former monthly high from April and the start of May).

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