CADCHF testing major resistance, potential breakout!
CADCHF is testing major resistance at 0.7412 (Fibonacci retracement, horizontal swing high resistance) and it's starting to break out of our triangle formation. Our next major resistance is at 0.7434 which is a fibonacci extension, retracement and swing high resistance level.
If price does drop, we're seeing it potentially going all teh way down to 0.7366 before 0.7336.
Stochastic (34,5,3) is also seeing major resistance at 89-95% where a corresponding reaction could occur.
If price does drop, we're seeing it potentially going all teh way down to 0.7366 before 0.7336.
Stochastic (34,5,3) is also seeing major resistance at 89-95% where a corresponding reaction could occur.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results