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CADCHF Is As Weak As It Can Get

2018-06-20_CADCHF-LT

CADCHF follows in the footsteps of AUDCHF and is pointing lower on all time frames from the daily (not shown) up to the yearly time scale, which is signaling the regained strength of the Swiss currency. The yearly and quarterly trends are bearish and the price ratio has both been rejected from the down-trending 7-period yearly moving average and failed so far below all moving averages on the monthly and quarterly scales. A potential cross-over between the moving averages is taking shape on the monthly scale. As long as the pair does not reconquer and closes above the critical 0.756 level on the monthly scale it is set to slide in direction of the next major support level in the 0.69 area.     

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