Technical analysis of CAD/CHF for December 2, 2016
December 2, 2016 12:42 pm
CAD/CHF continues to trade up and currently is above both 50- and 200-Moving Averages. Price broke above the descending channel where Fibonacci applied to the channel breakout point indicates that nearest target is 0.7622 which hasn’t been tested yet. If broken, CAD/CHF could go further up to test 0% Fibs (0.7795).
Consider buying CAD/CHF on small pullbacks targeting either 23.6% or 0% Fibs. Suggested stop loss is below 50-Moving Average.
Support: 0.7115
Resistance: 0.7622, 0.7795
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
CAD/CHF continues to trade up and currently is above both 50- and 200-Moving Averages. Price broke above the descending channel where Fibonacci applied to the channel breakout point indicates that nearest target is 0.7622 which hasn’t been tested yet. If broken, CAD/CHF could go further up to test 0% Fibs (0.7795).
Consider buying CAD/CHF on small pullbacks targeting either 23.6% or 0% Fibs. Suggested stop loss is below 50-Moving Average.
Support: 0.7115
Resistance: 0.7622, 0.7795
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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