CAD/CHF 1H Chart: Falling Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The general outlook on the pair is bearish, as CAD/CHF has just left the ascending channel. At the same time, most of the hourly and four-hour indicators are giving ‘sell' signals. Considering that the rate is forming a falling wedge, however, there is a good chance there is going to be a bullish retracement before the sell-off continues. If resistance at 0.7480 is broken, there will be two potential targets. The first one is going to be the accelerated down-trend at 0.7512, while the second target will be the former support trend-line at 0.7530. Meanwhile, in order to confirm its bearish intentions the price will have to push through 0.7450—a support level that proved to be important in the second half of June.
© Dukascopy Bank SA
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