- CADCHF reversed from support level 0.5800
- Likely to rise to resistance level 0.5900
CADCHF currency pair recently reversed from the support area between the key support level 0.5800 (which has been reversing the price from June) and the lower daily Bollinger Band.
The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Piercing Line.
Given the oversold daily Stochastic, CADCHF currency pair can be expected to rise to the next resistance level 0.5900, which stopped the previous waves a and 2.
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By the FxPro Analyst Team
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Disclaimer
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