CADCHF Wave Analysis – 13 May, 2022


• CADCHF broke resistance level 0.7700

• Likely to rise to resistance level 0.7800

CADCHF currency pair rising steadily after the price broke above the resistance level 0.7700 (which stopped the previous minor impulse wave (i) at the start of this month).

The breakout of the resistance level 0.7700 coincided with the breakout of the daily up channel from February – which accelerated the active waves 5 and (3).

CADCHF can be expected to rise further toward the next resistance level 0.7800 (target for the completion of the active waves 5 and (3)).

Source: Fxpro

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