Tickmill

CADCHF approaching support, potential bounce!

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FX:CADCHF   Canadian Dollar/Swiss Franc
Price is approaching our first support at 0.7530 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance at 0.7587 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price.
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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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