The Canadian Dollar has been appreciating against the Swiss Franc since late June when it bounced off the lower boundary of a dominant ascending channel pattern near the 0.7395 regions on June 25. The currency pair reached a two-month high level on August 8.
However, after piercing a resistance cluster formed by the combination of the weekly and the monthly pivot points at 0.7668, the exchange rate made a U-turn south.
Everything being equal, it is likely that the CAD/CHF currency exchange rate continue trading in the dominant ascending channel during the following trading sessions.
