CAD/CHF 1H Chart: Downside potential

Note: This section contains information in English only.
Source: Dukascopy Bank SA

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

The Canadian Dollar has appreciated about 6.29% of its value against the Swiss Franc during the last month.  

As apparent on the chart, the currency pair has already tested the upper boundary of the long-term descending channel at 0.7645. From a theoretical point of view, the exchange rate should reverse south from given boundary and go downside towards the lower channel line located circa 0.7160. Important support level to look out for is the Fibonacci 0.00% retracement at 0.7258. 

However, if given channel does not hold, a breakout north might occur in the nearest future, and the rate might target the monthly R1 at 0.7708.

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