CAD/CHF fell more than 20% from 8/2012 to 3/2014 and since then has been rallying. Even in the face of falling oil and easing by the SNB the Loonie rallied. Since 10/6 price has been pushing against the .8600 and failing to break the level and move higher. This area is a 38.2% fibo retracement of the aforementioned high and low.
There is a minor support/resistance level at .8375 and if the next leg lower is beginning a short term rally to .8375 and a sell off from there would be a good signal. The current candle is a hammer and if confirmed may get this projection in motion.
There is a minor support/resistance level at .8375 and if the next leg lower is beginning a short term rally to .8375 and a sell off from there would be a good signal. The current candle is a hammer and if confirmed may get this projection in motion.