CAD/CHF

SHORT Overall view of CADCHF - Update of June 17th week

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Previous view: Odds of a bull pullback are medium/high, stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.

Actual outcome: Prices tested 0.74400 bottom level; although the was a tiny rejection, the bearish pressure has been confirmed.

Possible targets: @0.74000 (+30pips) and @0.73640 (+80pips).

Advice: Stay bearish and sell at any high point while prices don't break the 0.74650 top level.

Correlated pairs: USDJPY (92.8%)
We are more likely to experience a strong bull spike with the USDJPY which is currently at a support zone and showing a progressive upward trend. Moreover, that might be the clue that CADCHF's odds to continue its bear run are higher.

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