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May 13, 2021 at 04:07PM
• CADCHF reversed from resistance area
• Likely to fall to support level 0.7410
CADCHF recently reversed down from the resistance area lying between the strong resistance level 0.7525 (which stopped the sharp uptrend at the end of March) and the upper daily Bollinger Band.
The downward reversal from this resistance area stopped the previous medium-term impulse wave (3).
Given the overbought daily Stochastic – CADCHF is likely to fall toward the next support level 0.7410 (low of the previous wave (2) from the start of May).
From: The FxPro News Team https://fxpro.news/technical-analysis/cadchf-wave-analysis-13-may-2021-20210513/
Selected by fonecable.com
Search Web: CADCHF Wave Analysis 13 May, 2021
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