• CADCHF reversed from resistance zone
• Likely to fall to support level 0.7420
CADCHF currency pair recently revered down from the resistance zone lying between the key resistance level 0.7480 (which has been reversing the price from the start of May) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous short-term impulse wave 3 from the end of last month.
Given the strengthening Swiss franc inflows on the spread of the delta variant – CADCHF currency pair can be expected to fall further toward the next support level 0.7420 (low of the previous wave 2 from the end of June).