Technical analysis on CADCHF
CADCHF is showing signs of a potential reversal toward the previous support around 0.60500 or the resistance around 0.6200.The overall momentum of the CADCHF is bearish as it's being for months. We are expecting it to continue trading below the 100 EMA on the daily chart
Key levels
Support- 0.6050
Resistance- 0.6200
Fundamental analysis on CADCHF
- Canadian dollar remains under pressure due to bearish oil prices and dovish BoC rhetoric
- CHF is holding strong on the safe heaven demand that it possess especially with the uncertainty around the global markets and risk off sentiment
-Until the BoC signal a policy shift or oil prices increases.The Canadian dollar will likely continue to weaken.
Conclusion
CADCHF is bearish unless the resistance around 0.6200 is broken will clear bullish momentum
CADCHF is showing signs of a potential reversal toward the previous support around 0.60500 or the resistance around 0.6200.The overall momentum of the CADCHF is bearish as it's being for months. We are expecting it to continue trading below the 100 EMA on the daily chart
Key levels
Support- 0.6050
Resistance- 0.6200
Fundamental analysis on CADCHF
- Canadian dollar remains under pressure due to bearish oil prices and dovish BoC rhetoric
- CHF is holding strong on the safe heaven demand that it possess especially with the uncertainty around the global markets and risk off sentiment
-Until the BoC signal a policy shift or oil prices increases.The Canadian dollar will likely continue to weaken.
Conclusion
CADCHF is bearish unless the resistance around 0.6200 is broken will clear bullish momentum
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.