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Weekly forecast Canadian Dollar / Swiss Franc technical chart
Symbol CADCHF

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMay 16, 2020 - 20:26
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.70300, beginning of downtrend is expected.
  • We make sure when the support at 0.66050 breaks.
  • If the resistance at 0.70300 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • The Rising Wedge taking shape and as a bearish pattern suggests we will soon see another leg lower if price breaks and closes below uptrend.
  • A peak is formed in daily chart at 0.6982 on 05/07/2020, so more losses to support(s) 0.6800, 0.6725, 0.6670 and minimum to Major Support (0.6605) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Supports and Resistances:

  1. 0.7960
  2. 0.7635
  3. 0.7440
  4. 0.7265
  5. 0.7125
  6. 0.7030
  7. 0.6950
  8. 0.6885
  9. 0.6800
Click on the level to view price action history.