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CAD/CHF: trade idea

Tatiana Norkina, analyst at FBS

The currency pair came out in the positive zone today, overcoming the resistance level of four-hour lines of Tenkan-Sen and Kijun-Sen Senkou Span A. Obviously, bulls predominate on the market at this time.

It should be noted that the values of oscillators are increasing. Thus, MACD went down to zero level, whereas  RSI is rising.

It is possible that the pair will be fixed in the area of 0.8500 / 20 in the near future. In this case there is a high probability of amplification of the current up trend.

 

Technical levels: Support - 0.8500 / 20; resistance - 0.8590, 0.8685.

Trading recommendations:

1. Buy — 0.8500/20; SL — 0.8490; TP1 — 0.8590; TP2 — 0.8685.

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