The CADCHF pair gained upward momentum this morning, surpassing the previously broken support level of 0.6203 and rising to 0.6236. This move suggests the pair is attempting to delay a continued decline and potentially initiate a corrective bullish trend.
Positive momentum is supported by the stochastic indicator, which has exited the oversold zone, allowing for the resumption of upward movement. The next key resistance levels to watch are 0.6255 and 0.6290.
Today’s expected trading range is between 0.6200 and 0.6255.
Trend Forecast: Bullish
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