The CADCHF currency pair remains below the resistance level of the bearish channel at 0.6360, signaling the potential for a continuation of negative momentum. This technical setup suggests that the pair may begin a decline towards the 0.6220 support level.
Current indicators, including the position below the 55-period moving average (MA55) and the stochastic oscillator in the oversold region, reinforce the bearish outlook. As a result, the pair is expected to continue its downward trend, potentially targeting the 0.6180 and 0.6135 levels in the near term.
For today, the expected trading range is between 0.6180 and 0.6280.
Trend Forecast: Bearish
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