Since the beginning of October, the Canadian Dollar has been falling against the Swiss Franc. The currency pair has lost about 1.46% in value during this short period.
However, the CAD/CHF exchange rate bounced off a support cluster at the 0.7427 area during yesterday’s trading session. Most likely, bulls could drive the price towards the 0.7560 marks in the shorter term.
The long-term target for the currency exchange rate would be at the upper boundary of an ascending channel pattern at 0.7615.
Although, bulls will have to surpass the weekly R1 at 0.7544 before reaching the given target.
