The CAD/CHF continues to fall after the recent reversal from the upper resistance trendline– as you can see from the following trade alert for this currency pair.
The CAD/CHF is expected to break this Up Channel and then to fall to the target level 0.7978 in the next 8 trading days. Autochartist set the stop-level for this forecast at 0.8290 (point B). This point formed recently – when the pair reversed down from the resistance zone between the 61.8% Fibonacci Correction of the preceding downward impulse from January and the upper weekly Bollinger Band. RSI being above the “60” mark confirms this forecast.
The weekly CAD/CHF chart below shows the aforementioned resistance levels.
The weekly CAD/CHF chart below shows the aforementioned resistance levels