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27.10.201607:40 Forex Analysis & Reviews: Technical analysis of CAD/CHF for October 27, 2016

Long-term review

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CAD/CHF found the top at 0.7600 and started to decline sharply. The pair broke below both 200- and 50-Moving Averages, while at the same time breaking below the uptrend trend line.

It this setup a trend appears to become bearish, so price is likely to continue moving lower. Consider selling CAD/CHF while price is near 50% Fibs (0.7432) applied to the trend line breakout point. The first target is 38.2% (0.7390) while the second target is 23.6% Fibs (0.7340). The suggested stop loss is 0.7460.

Support: 0.7360, 0.7340

Resistance: 0.7432, 0.7474

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