The CAD/CHF exchange rate traded upwards within a rising wedge pattern for the last four weeks. During today’s morning, the rate broke the lower pattern line.
From a theoretical perspective, it is likely that some downside potential could continue to prevail in the market. In this case the currency pair could gain support from the monthly S1 located at 0.6547.
It is unlikely that bulls could prevail in the market, and the exchange rate could exceed the psychological level at 0.7600.
