• CADCHF reversed from support zone
• Likely to rise to resistance level 0.7480
CADCHF currency pair recently reversed up from the support zone lying between the key support level 0.7400 (which has been reversing the price from the start of May), lower daily Bollinger Band and the 50% Fibonacci correction of the upward wave (2) from April. The upward reversal from this support zone stopped the earlier impulse waves 3 and (3).
Given the strength of the longer-term uptrend, moderately bearish Swiss franc sentiment, CADCHF currency pair can be expected to rise further toward the next resistance level 0.7480 (top of the previous minor corrections (a) and 2 from start of June).