• CADCHF reversed from support area
• Likely to rise to 0.6915

CADCHF has been rising from today’s open – after the pair reversed up from the reinforced support area located at the intersection of multiple support levels:

• Key powerful support level 0.6860, which has been reversing the price from the middle of August
• Lower daily Bollinger Band
• Support trendline of the long-term Triangle from March
• 50% Fibonacci correction of the previous upward impulse wave 1 from July

The upward reversal from this support area created the daily Doji which started the active short-term upward impulse wave 3.  With the rising risk-on sentiment – CADCHF is likely to rise further toward the next resistance level 0.6915.