CAD/CHF Trade Idea
Technical indicators for the pair are turning bullish.
Price action has edged above major EMAs after bullish divergence on Stochs.
The pair is currently trading muted after previous session's spike with stiff resistance at 0.7615 (nearly converged 200-DMA and cloud).
Breakout there could see further bullishness. Scope then for test of 61.8% Fib at 0.7686.
Rejection at 200-DMA could see retrace till 21-EMA at 0.7565. Violation there could see further weakness.
Good to go long on breakout at 200-DMA, SL: 0.7565, TP: 0.7630/ 0.7685
Price action has edged above major EMAs after bullish divergence on Stochs.
The pair is currently trading muted after previous session's spike with stiff resistance at 0.7615 (nearly converged 200-DMA and cloud).
Breakout there could see further bullishness. Scope then for test of 61.8% Fib at 0.7686.
Rejection at 200-DMA could see retrace till 21-EMA at 0.7565. Violation there could see further weakness.
Good to go long on breakout at 200-DMA, SL: 0.7565, TP: 0.7630/ 0.7685
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