• CAD/CHF broke key support level 0.7400
• Further losses are likely
CAD/CHF previously broke through the key support level 0.7400 (which stopped the A-wave of the active ABC correction (2) from the start of May, as can be seen below).
The breakout of the support level 0.7400 accelerated the active impulse wave C of the aforementioned ABC correction (2).
CAD/CHF is expected to fall further and retest the next support level 0.7300 (target for the completion of the active wave C).