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Long

CAD/CHF faces strong resistance at 0.7550, good to buy at dips

FX:CADCHF   Canadian Dollar/Swiss Franc
68 0 3
Candle Stick pattern- Shooting Star

Major resistance – 0.7550 (trend line joining 0.74615 and 0.75163)

Major support - 0.74350 (trend line joining 0.71350 and 0.73922)

Canadian dollar             gained against all major pair’s yesterday after BOC             kept the interest rates on hold and also due to higher oil             prices.

The pair has made a high of 0.75390 and slightly retreated from that level. It is currently trading around 0.7517.

Any break above 0.7550 confirms major trend reversal a jump till 0.76180/0.7740 is possible.

On the lower side any break below 0.7435 will drag the pair down till 0.7350/0.7300.

It is good to buy at dips around 0.7460 with SL around 0.7410 for the TP of 0.7618/0.7740
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