- CADCHF broke support level 0.5700
- Likely to fall to support level 0.5600
CADCHF currency pair recently broke below the pivotal support level 0.5700 (which has been reversing the pair from the middle of September).
The breakout of the support level 0.5700 accelerated the active downward impulse wave iii of the impulse of the intermediate impulse wave (3) from May.
Given the clear daily downtrend, CADCHF currency pair can be expected to fall to the next strong support level 0.5600 (target for the completion of the active impulse wave 3).
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.