The Canadian Dollar has declined by 114 pips or 1.61% against the Swiss Franc since January 20. The currency pair breached the lower boundary of an ascending channel pattern at 0.6937 during the Asian session on Thursday.
All things being equal, the exchange rate is likely to continue to edge lower during the following trading sessions. The possible target for the CAD/CHF pair would be near the 0.6860 level.
However, the lower line of an ascending channel pattern at 0.6937 could provide support for the currency exchange rate in the shorter term.
