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CADCHF testing major support, prepare for a potential bounce!

Long
Canadian Dollar/Swiss Franc (FX:CADCHF)  
Tickmill Broker  
FX:CADCHF   Canadian Dollar/Swiss Franc
Trend Analysis Harmonic Patterns Chart Patterns CADCHF cadchfshort cadchflong cadchfidea cadchfsell cadchfforecast cadchfdaily cadchfanalysis cadchfbuy
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trendanalysis harmonicpatterns chartpattern cadchf cadchfshort cadchflong cadchfidea cadchfsell cadchfforecast cadchfdaily cadchfanalysis cadchfbuy

CADCHF is testing major support at 0.7716 (Fibonacci retracement, horizontal overlap support, bullish price action, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7851 (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) is seeing major support above 6.4% where a corresponding bounce could occur. We are also seeing bullish divergence vs price signalling that a bounce could be impending.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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