CAD/CHF broke resistance level 0.7800

CAD/CHF broke resistance level 0.7800

2019-11-11 • Updated

  • CAD/CHF broke resistance level 0.7800
  • Next buy target 0.7900

CAD/CHF recently reversed up from the support zone lying between the pivotal support level 0.7730 (former resistance from the middle of April) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the April. Having just broken the resistance level 0.7800 (top of the impulse wave (i)) - CAD/CHF is expected to rise further toward the next buy target at the next resistance level 0.7900 (top of wave B).


USD/CAD Short Trade
USD/CAD Short Trade

USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.

Eyes on Bank of Canada's decision today
Eyes on Bank of Canada's decision today

All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.

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