CADCHF testing resistance, potential drop!
CADCHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price could potentially drop to its major support at 0.7480 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (55) is also approaching resistance where we will see a corresponding drop in price.
RSI (55) is also approaching resistance where we will see a corresponding drop in price.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.