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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.

DateApril 10, 2021 - 23:15
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 0.70600, continuation of uptrend is expected.
  • We make sure when the resistance at 0.76350 breaks.
  • If the support at 0.70600 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.74745 on 2021-03-15 and the peak at 0.7527 on 2021-04-01, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • The RSI uptrend #1 is broken, so the probability of continuation of uptrend is decreased.
  • A peak is formed in daily chart at 0.7527 on 04/01/2021, so more losses to support(s) 0.7340, 0.7270, 0.7200 and minimum to Major Support (0.7060) 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. 0.7135
  2. 0.7060
  3. 0.7005
  4. 0.6955
  5. 0.6900
  6. 0.6850
  7. 0.6605
Click on the level to view price action history.