CAD/CHF chart on Trading View used for analysis
- CAD/CHF hovers around 110-EMA, intraday bias higher.
- The pair is on track to close higher for the 3rd straight week.
- Momentum studies are bullish, RSI sharply higher, MACD supports upside.
- Focus on Canada inflation data due later today for further impetus.
- Analysts expect headline inflation to be depressed by the slump in energy prices.
- A drag on core figures, given the persistently weak wage growth could add to pressure on BoC.
- Immediate support is seen at 110-EMA at 0.7488. Break below 5-DMA at 0.7456 could see further weakness.
- Decisive break above 110-EMA to see test of 200-DMA at 0.7558.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.