FX.co ★ CAD/CHF approaching resistance, potential drop!

CAD/CHF is approaching our first resistance at 0.7544 (horizontal pullback resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7502 (50% Fibonacci retracement).

Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment so please ensure you fully understand the risks.