CAD CHF Forecast: Today, CAD/CHF started its journey at the 0.6280 level on the daily chart, and as of now, it’s trading around the 0.6310 mark. Over the past three days, the price has consistently been moving upward.
On the 4-hour time frame, we can see that the price has broken above both the 50 EMA and the 200 EMA, and it has managed to stay above these moving averages. This suggests strong bullish momentum.
Currently, short-term support levels are at 0.6280 and 0.6250. On the other hand, the key resistance levels to watch are at 0.6360 and 0.6430.
Outlook for the Upcoming Sessions:
We believe that CAD/CHF will maintain its upward trend in the upcoming sessions. The next resistance level to watch is at 0.6350, and if the price breaks through that, it could continue higher, potentially reaching 0.6430.
However, if the price drops below the 0.6280 level, the likelihood of a bullish move decreases. In that case, the pair might reverse and return to its main downtrend, where the next sell target could be around 0.6210.
Conclusion:
Given the current market setup, we are biased towards buying CAD/CHF in the short term. The price action suggests continued bullish momentum, and we expect the pair to test higher levels shortly.
