Technical analysis of the USD/CAD
CAD/CHF is near the resistance
Information is not investment advice
On the daily chart of CAD/CHF, the pair is near the resistance of 0.7490. If the pair breaks above this level, we can anticipate a further rise to 0.7513. The next resistance is at 0.7545. If the pair sticks below 0.7490, the support is located at 0.7459 (previous low and the trendline). A breakthrough below this level will cause a fall to 0.74395.
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USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.
A bearish “engulfing” pattern was formed on the W1 chart of NZD/USD around the 38.2% Fibonacci retracement level of the July-October decline.