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CAD/CHF reversed from resistance area

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  • CAD/CHF reversed from resistance area
  • Next sell target - 0.7600

CAD/CHF continues to decline after the earlier downward reversal from the resistance area lying between the resistance level 0.7800 (previous buy target and the top of the earlier wave (C)) and the upper daily Bollinger Band. The downward reversal from this resistance area completed the previous minor ABC correction (ii). With the overbought daily CCI and the clear bearish divergence on the daily Stochastic indicator - CAD/CHF is expected to fall to next sell target at the next support level 0.7600.

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