CADCHF on major channel resistance, possible further drop
CADCHF is now testing our long term channel resistance once again and a further drop could occur from this level as it has respected the channel so well so far. Our 1st resistance is at 0.7438 (Fibonacci retracement, horizontal overlap resistance) and our next support is all the way down at 0.7368 (Fibonacci extension).
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results