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ICmarkets
Jul 20, 2018 3:28 AM

CADCHF Testing Support, Potential For A Bounce! Long

Canadian Dollar/Swiss FrancFXCM

Description

CADCHF is testing its support at 0.7530 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where price could rise to its resistance at 0.7588 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its intermediate support at 8.5% where a corresponding rise could occur.
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