CADCHF Chart Technical Outlook breaking the expanding which formation, reverse support located at 0.6256.
We have seen 2 positive daily performances in succession after posting the 0.6192 swing low. Price action has formed an expanding wedge pattern that has a bias to break to the upside. The previous resistance is located at 0.6300. I would look for a downside to correction to offer a buying opportunity close to 0.6256 (wave 2). This is bespoke support and possibly the reverse trend line support from the wedge breakout. The medium-term focus is bullish.
