CAD/CHF reversed from major resistance area

CAD/CHF reversed from major resistance area

  • CAD/CHF reversed from major resistance area
  • Next sell target - 0.7600

CAD/CHF recently reversed down strongly from the major resistance area lying between the major, long-term resistance level 0.7750 (which has been steadily reversing the pair from the end of 2015, as can be seen from the weekly CAD/CHF chart below), the upper weekly Bollinger Band and the 200-week moving average. Considering the overbought reading on the weekly Stochastic - CAD/CHF is expected to fall further to the next sell target at the next support level 0.7600.

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The pair has been trading in a bullish tone since November 9th but currently it’s off from November 17th highs and we can expect that it finds dynamic support in the 200 SMA…

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