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CAD/CHF reached buy target 0.7500

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  • CAD/CHF reached buy target 0.7500
  • Next buy target - 0.7600

CAD/CHF recently reversed up from the strong support level 0.7380 (former powerful resistance level which reversed the pair sharply in May and June). The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. The price today reached the resistance level 0.7500 (which was set as the buy target in our earlier forecast for this currency pair). If the price closes above this resistance level - CAD/CHF can then be expected to rise to the next buy target at the next resistance level 0.7600 (top of the previous wave B).

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