CAD/CHF Testing 200-hour SMA
Our preference: the upside prevails as long as 0.7486 is support.
Alternative scenario: the downside breakout of 0.7486 would call for 0.7463 and 0.7449.
The Canadian Dollar has appreciated by 2.08% in value against the Swiss Franc since August 14.The currency pair is currently testing a resistance level formed by the 200- hour simple moving average at 0.7429.
If the resistance level holds, the exchange rate might edge lower during the following trading sessions.On the other hand, if the CAD/CHF currency exchange rate passes the 200-period SMAs,
bullish traders might aim at the monthly pivot point at 0.7537 during next week’s trading sessions.