CADCHF Chart Technical Outlook

CADCHF Chart Technical Outlook builds a bullish momentum on breaking July’s high* CAD advances on rising Oil prices after Saudi Arabia and Russia vowed for more supply cuts, alongside strong PPI data from yesterday and an expected uptick in the headline Inflation data today. The SNB meeting is due this Thursday, with an expected 25 bps interest rate hike. The recent pause from the ECB opens the door for a similar decision from Switzerland. If true, the pair would travel north in a big distance. A hike from SNB is priced in markets. Eyes would go to the Inflation projection. It was revised lower from 2.6% to 2.2% for 2023. The last print was 1.6%. A hike and a lower inflation projection won’t help bulls. I expect CAD/CHF to progress higher and dip to find buyers Resistances: 0.6690, 0.6750 Supports: 0.6625, 0.6540

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