
Gold Daily Chart Throughout last week’s trading, gold traded within a tight range, but it also managed to hold well above its 1775 support area until the end of the week, while the technical indicators has improved over the past few days, including…
2019-11-11 • Updated
On the daily chart of CAD/CHF, on June 3, the pair met support at 0.7383 and rebounded. It may be a good boost for the CAD. However, on Thursday and Friday, we anticipate several economic releases that may affect the Canadian dollar. On Thursday, trade balance data will have an impact on the CAD. On Friday, investors will closely follow Canadian jobs data. Positive economic figures may push the pair further up. The first important resistance is located at 0.7463. A breakthrough above this level will lead the pair to 0.7545.
If the data doesn't encourage the Canadian dollar, an increase to 0.7463 will be limited. In this case, we may see a slide towards 0.7383. If the pair closes below it, the trendline will become another important border to cross. Moreover, we see that Awesome oscillator and MACD indicator are in the negative zone that increases risks of the fall.
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