CADCHF Chart Technical Outlook

CADCHF Chart Technical Outlook pushing against 0.6540, with bears focusing on key support 0.6470

Canadian Dollar’s recovery attempt lost momentum on Tuesday after failure to breach the resistance area at 0.6600, which has given bears hopes for a retest of long-term lows at 0.6470.

Fundamentals support the Swiss Franc, as the SNB is expected to raise rates further this year, while the market sees little chance of more tightening by the Bank of Canada after having increased borrowing costs to their highest levels since 2021.

Resistance levels are 0.6620 and 0.6685.

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