The Canadian Dollar reversed from the upper border of a triangle pattern formation at 0.7606 on July 8. The CAD/CHF currency pair has depreciated about 1.62% in value during this time period.
Given that a breakout had occurred through the lower boundary of the triangle pattern, it is likely that the exchange rate will continue its downward movement during the following trading sessions.
However, technical indicators suggest buying signals on both the smaller and the later time-frame charts. Therefore, bulls are likely to prevail in the market in the shorter term.
