CADCHF approaching support, potential bounce!
CADCHF is approaching our first support at 0.7533 (horizontal swing low support, 23.6% Fibonacci retracement) and broke out of our short term descending resistance line where a strong bounce might occur above this level pushing price up to our major resistance at 0.7648 (horizontal swing high resistance, 100% Fibonacci extension).
RSI (55) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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