CAD/CHF 1H Chart: Two scenarios likely

Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Sell Buy Neutral
SAR (0.02; 0.2) Sell Buy Buy
Aggregate

Downside risks has been dominated the CAD/CHF currency pair since the rate reversed from the upper boundary of a long-term descending channel at 0.7720.  

The pair managed to reverse to the upside from the Fibonacci 50.00% at 0.7575. Currently, the exchange rate is trying to surpass the resistance cluster formed by a combination of the 55-, 100-, 200-hour SMAs, as well the weekly PP and the Fibonacci 61.80% in the 0.7603/0.7650 range. If given resistance holds, the pair go downside to the support cluster formed by the weekly S2, the monthly PP and the Fibonacci 38.20% in the 0.7487/0.7513 range. 

Otherwise, the pair could re-test the upper channel line located near 0.7700.

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