CADCHF Chart Technical Outlook currency pair is in a downtrend, reflecting broader weakness in the Canadian dollar relative to the Swiss franc. Key technical indicators suggest that the pair faces resistance near the 0.6350 level, where the 50-day exponential moving average (EMA) sits, providing potential resistance for any rallies. Analysts are observing a target range between 0.6190 and 0.6100 in the near term, pointing to further bearish momentum if the downtrend continues.
This decline is influenced by multiple factors, including weak Canadian employment data and lower crude oil prices, which weigh the Canadian dollar. Conversely, the Swiss franc remains strong due to its status as a safe-haven currency amidst global uncertainty. An asymmetrical expanding triangle pattern has also been identified, indicating that a bullish push might occur if key resistance levels are broken.
