CAD/CHF Forecast and Analysis: The CAD/CHF currency pair has shown strong bullish momentum over the past five days. Last week, it bounced off the support level at 0.6220 and closed near the resistance at 0.6330. Currently, the pair is trading around 0.6320, having broken above the 50 EMA on the daily chart.
On the 4-hour chart, the 50 EMA has been rising and is close to crossing above the 200 EMA. This shift indicates a potential mid-term trend reversal, as the previous downtrend may be changing direction.
Looking at the 1-hour chart, the 50 EMA has already crossed above the 200 EMA, with the price moving above both indicators. This suggests that these levels are now providing short-term support.
Short-term Support Levels:
- 0.6260
- 0.6290
Short-term Resistance Levels:
- 0.6348
- 0.6390
CAD/CHF Forecast:
We expect the upward momentum to continue in the coming sessions, with the possibility of breaking above 0.6350 and gradually approaching 0.6390. However, if the price falls below 0.6250, it could retest the 0.6200 level, although this scenario seems unlikely at the moment.
Overall Sentiment on CAD/CHF: Bullish.
Stay tuned for more updates as we monitor this pair’s performance!
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