FX.co ★ CAD/CHF Testing Resistance, Prepare For A Drop

CAD/CHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where we expect price to 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.

CAD/CHF is testing resistance where we can expect a strong drop.

Sell below 0.7610. Stop loss 0.7679. Take profit at 0.7480.