CAD/CHF approached support level 0.7420
- CAD/CHF approached support level 0.7420
- Next sell target - 0.7360
CAD/CHF has been falling steadily in the last few trading sessions – following the earlier downward reversal from the resistance zone lying between the resistance level 0.7600 (previous buy target set in our earlier forecast for this currency pair), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from April.
The pair is currently trading close to the support level 0.7420 (low of the previous (b)-wave). If the price breaks below the support level 0.7420 - CAD/CHF can then fall further to the next sell target at the pivotal support level 0.7360 (low of the previous impulse wave 1).