What happened? It looks like the decline in EUR/CHF to 1…
CAD/CHF reversed from resistance zone
2019-11-11 • Updated
- CAD/CHF reversed from resistance zone
- Next sell target - 0.7530
CAD/CHF recently reversed down from the resistance zone lying between the strong resistance level 0.7630 (which has been steadily reversing the price from the start of June), upper daily Bollinger Band and 50% Fibonacci correction of the downward correction (2) from May. CAD/CHF is expected to fall further toward the next sell target at the next support level 0.7530 (low of wave 2).
Similar
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
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.
Latest news
The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.
Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations.
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...