• CADCHF reversed from key support level 0.7100
• Likely to rise to resistance level 0.7185
CADCHF currency pair recently reversed up from the key support level 0.7100 (former multi-month low from December) intersecting with the lower daily Bollinger Band.
The upward reversal from the support level 0.7100 stopped the earlier short-term impulse wave 3 from the end of September.
Given the clear bullish divergence on the daily Stochastic indicator, CADCHF currency pair can be expected to rise further toward the next resistance level 0.7185.
Source: Fxpro
