CADCHF Chart Technical Outlook trades south ahead of the BoC meeting bear an eye at 0.6585
CAD/CHF broke below the bullish channel. The pair consolidates the rally ahead of the Swissy CPI data and the BoC meeting due this week. The bank is expected to cut rates by 25 bps. Markets price a total 65 bps cut this year. There are no new projections for this meeting, but investors will eye clues from the press conference. Inflation is expected to inch higher in Switzerland.
I expect downside price action going into the events, and any rally will be corrective and find sellers. Resistances are located at 0.6655 and 0.6700. Supports are seen at 0.6585 and 0.6560.
