CADCHF Chart Technical Outlook

CADCHF Chart Technical Outlook to continue lower to test the previous low 0.6476
CAD/CHF broad bias is bearish. The pair printed lower highs and lower lows since May last year. It approaches a previous swing low 0.6476, and RSI in multiple charts shows oversold conditions. There are no signs of bottoming yet. Therefore, I expect the downside pressure to continue.
The Canadian Inflation data is due today. A soft reading might put more downside pressure on CAD and the pair.
CHF gains out of a still-hawkish SNB and a safe-haven cash flow if sentiment deteriorates.
Resistances: 0.6550, 0.6600
Supports: 0.6476, 0.6425

We will be happy to hear your thoughts

      Leave a reply

      Logo
      Compare items
      • Total (0)
      Compare
      0