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3 Apr 2015
CAD/CHF might move higher – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team views that CAD might make a recovery versus the CHF, and move higher again to retest the resistance at 0.8653.
Key Quotes
“…the pair experienced a sharp appreciation until it reached the resistance line at 0.8653 where it rebounded and declined. Since then we saw a sideward movement between the first resistance and the first support level.”
“After the decision of the SNB the CAD highly lost in value versus the CHF but was able to regain clearly during the last trading sessions. Since the decision of the SNB was radical, it is hard to give an overview about the future direction of this pair at the moment.”
“The next trading sessions will bring more clarity about the future direction of this pair, although we already see a clearly recovery of the CAD which may first be tested when the pair reaches the first resitance level. The new support seems to be at around 0.7582 CHF per one CAD.”
“Support Levels around 0.7582, 0.6824”
“Resistance Levels around 0.8150, 0.8346, 0.8653”
Key Quotes
“…the pair experienced a sharp appreciation until it reached the resistance line at 0.8653 where it rebounded and declined. Since then we saw a sideward movement between the first resistance and the first support level.”
“After the decision of the SNB the CAD highly lost in value versus the CHF but was able to regain clearly during the last trading sessions. Since the decision of the SNB was radical, it is hard to give an overview about the future direction of this pair at the moment.”
“The next trading sessions will bring more clarity about the future direction of this pair, although we already see a clearly recovery of the CAD which may first be tested when the pair reaches the first resitance level. The new support seems to be at around 0.7582 CHF per one CAD.”
“Support Levels around 0.7582, 0.6824”
“Resistance Levels around 0.8150, 0.8346, 0.8653”