CAD/CHF Slightly Recovered

CAD/CHF reached its resistance point on Thursday last week when the exchange rate hit 0.7860. That was the result of a 3 month rally starting in the beginning of March from 0.7229.

Currently, CAD/CHF is trading at 0.7770, slightly recovered from its lowest on Friday which was 0.7720. If bulls keep on pushing to the upside, the pair would face the resistance again and in order for the bullish trend to continue the level of 0.7880 needs to be taken out.

Until then, the pair is in bearish territory and trend could be corrected to bearish at any point unless we can have major fundamental news that could shake up the pair.

Chart: CAD/CHF D1