CAD/CHF is expected to rise further in the next 2 days. Autochartist set the Target Level for this advance at the 0.9497 (labeled as point B on the chart below), which corresponds to the last resistance turning point of the daily Down Channel identified by Autochartist.
Point A (0.91336, last support turning point of aforementioned Down Channel) is also the converging point of the two strong support levels – the weekly lower Bollinger Band and the 50% Fibonacci Retracement of the previous weekly upward impulse from October of 2011.
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The following weekly CAD/CHF chart shows the technical price levels mentioned above:
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