The Canadian Dollar has declined by 1.93% against the Swiss Franc since September 8. The currency pair breached the 200– period simple moving average during this week’s trading sessions.

A breakout occurred through the upper boundary of a descending channel pattern on September 22.

Given that a breakout has occurred, bullish traders could pressure the CAD/CHF exchange rate higher during the following trading sessions.

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However, a resistance cluster formed by the 100– period SMA and the weekly R1 at 0.6920 could provide resistance for the currency exchange rate in the shorter term.

 

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