CAD/CHF: buy target - 0.7500
By: Dmitriy Chernovolov
- CAD/CHF broke resistance level 0.7330
- Next buy target - 0.7500
CAD/CHF recently broke above the resistance level 0.7330 (which reversed the previous upward impulse in January, as can be seen from the weekly CAD/CHF chart below). The breakout of this resistance level is likely to accelerate the active minor correction (ii) – which started earlier – when the price reversed up from the support zone lying between the support levels 0.7000 and 0.6840 (which has been reversing the price from the start of 2015 as can be seen below).
CAD/CHF is likely to rise further toward the next buy target at the resistance level 0.7500 (forecast price for the completion of the active minor correction (ii)).