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FxWirePro: CAD/CHF Trade Idea

CAD/CHF chart on Trading View used for analysis

FxWirePro Currency Strength Index for CAD/CHF: Bias Bearish
FxWirePro's Hourly CAD Spot Index was at -62.0244 (Neutral)
FxWirePro's Hourly CHF Spot Index was at 102.713 (Bullish)

Technical Analysis: Bias Bearish
- Momentum studies highly bearish
- Extends weakness below 200W SMA
- MACD and DMI support further weakness
- Price action below cloud and major moving averages

Support levels - 0.7355 (trendline), 0.7315 (Sept 6 low)
Resistance levels - 0.74, 0.7416 (5-DMA), 0.75 (21-EMA)

Recommendation: Good to short rallies, SL: 0.7420, TP: 0.7355/ 0.7315

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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