CAD/CHF broke resistance levels - 0.7650 and 0.7710

CAD/CHF broke resistance levels - 0.7650 and 0.7710

  • CAD/CHF broke resistance levels - 0.7650 and 0.7710
  • Next buy target - 0.7850

CAD/CHF continues to rise inside the minor impulse wave 3, which recently broke above the two consecutive resistance levels - 0.7650 (previous buy target set in our earlier forecast for this currency pair) and 0.7710 (powerful resistance level which reversed the price in January and February). The breakout of these resistance levels strengthened the bullish pressure on this currency pair. CAD/CHF is expected to rise to the next buy target at the next resistance level 0.7850.


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Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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