CAD/CHF 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
CAD/CHF built up some bearish potential in a rising wedge pattern, adding an alternative trend-line in the last three sessions and breaking it on Monday morning. The pair is now on its way to the original bottom trend-line around 0.7589 and is likely to experience some hitches around 0.7597/94. The gloomy outlook is mainly dictated by the Italian referendum vote, in which markets saw risk, causing investments to flow into safe havens, such as the Swiss Franc. When markets calm, we will still look for the Canadian Dollar losing against the Franc, but establishing a flatter motion.
© Dukascopy Bank SA
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