HomeContributorsTechnical AnalysisCAD/CHF 4H Chart: Bearish Sentiment To Continue

CAD/CHF 4H Chart: Bearish Sentiment To Continue

Since February 20, the Canadian Dollar has declined by 3.12% in value against the Swiss Franc. The currency pair tested the lower boundary of a descending channel pattern at 0.7209 during the morning hours of Friday’s trading session.

Given that the exchange rate has breached the channel pattern, the CAD/CHF pair could edge today’s session on bearish momentum. The short term target for the pair will be at the 0.7116 marks.

However, a support cluster formed by the weekly S1 and the lower boundary of the descending channel pattern at 0.7194 could provide support for the currency exchange rate within this session.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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