The Canadian Dollar has edged higher by 137 pips or 1.89% in value against the Swiss Franc since last week’s trading sessions. The currency pair tested the 200– period simple moving average at 0.7391 during the morning hours of today’s session.
As for the near future, the exchange rate could make a slight upside movement towards the resistance cluster formed by the weekly R2, the monthly R1 and the upper boundary of a descending channel pattern at 0.7426.
The CAD/CHF currency exchange rate will most likely make a downside retracement from the resistance cluster, as mentioned earlier, during next week’s trading sessions.
