The Canadian Dollar has been moving in an ascending channel against the Swiss Franc since late June. The currency pair bounced off it bottom border on June 24 and rose to a one-month high level at 0.7679.
The exchange rate was pressured from both sides by the SMAs. The 55-hour simple moving average was providing resistance, while the 100– hour SMA and the monthly pivot point was providing support.
Everything being equal, it is likely that the CAD/CHF currency exchange rate continue trading in the uptrend channel during the following trading session until the monthly resistance level at 0.7668 is breached.
