CAD/CHF Could Plunge Lower
Tickmill | Jan 14, 2022 04:32AM ET
Type: Bearish reversal
Key Levels: Resistance: 0.73014, pivot: 0.72805 and support: 0.72192
Preferred Case: CAD/CHF is at a pivot. We see the potential for further bearish continuation from our pivot at 0.72805 in line with 50% Fibonacci retracement towards our Take Profit at 0.72192, which is an area of Fibonacci confluences. RSI is showing bearish momentum.
Alternative Scenario: Alternatively, prices may go to our 1st resistance at 0.73014 in line with 23.6% Fibonacci retracement.
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