Cable inches towards key resistance near 1.3400
The progress on the COVID-19 vaccines and hopes of a swift economic rebound next year added to the optimistic sentiment in the market.
CAD/CHF got a boost
Information is not investment advice
On the daily chart of CAD/CHF, on June 3, the pair met support at 0.7383 and rebounded. It may be a good boost for the CAD. However, on Thursday and Friday, we anticipate several economic releases that may affect the Canadian dollar. On Thursday, trade balance data will have an impact on the CAD. On Friday, investors will closely follow Canadian jobs data. Positive economic figures may push the pair further up. The first important resistance is located at 0.7463. A breakthrough above this level will lead the pair to 0.7545.
If the data doesn't encourage the Canadian dollar, an increase to 0.7463 will be limited. In this case, we may see a slide towards 0.7383. If the pair closes below it, the trendline will become another important border to cross. Moreover, we see that Awesome oscillator and MACD indicator are in the negative zone that increases risks of the fall.
Darya Bobrova
Similar
AUD/JPY: Risk on remains intact
World shares paused on Monday to assess a record-breaking month
EUR/USD hits a new 3 month high
Looking ahead, highlights from macroeconomic calendar include regional and national German CPIs, US Chicago PMI, OPEC meeting, ECB's Lagarde and BoE's Tenreyro speeches.
Popular
OPEC+ decision is in focus
How to trade oil ahead of OPEC+ crucial decision?
Cable inches towards key resistance near 1.3400
The progress on the COVID-19 vaccines and hopes of a swift economic rebound next year added to the optimistic sentiment in the market.
AUD/JPY: Risk on remains intact
World shares paused on Monday to assess a record-breaking month
Choose your payment system
