CAD/CHF 1H Chart: Short-term decrease expected

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Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇘⇒

[ANNOUNCE] The Canadian Dollar has been depreciating against the Swiss Franc after the exchange rate reversed south from the upper boundary of the long-term descending channel at 0.7620. [/ANNOUNCE] 

Given that the currency pair is pressured by the 55-, 100– and 200-hour SMAs, it is expected, that bears could prevail in the market. Note, that the pair has to surpass the Fibonacci 23.60% retracement at 0.7408. 

If the given support level holds, it is likely, that the rate could reverse north and reach the Fibonacci 38.20% retracement at 0.7501.

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