The CADCHF price chart is showing a clear support and resistance zone that the price line has been bouncing between. Traders can see that the price has been steadily rising on an ascending trend line, and it’s currently on an upward wave. If the price line continues to follow this trend line, traders could expect it to keep ascending towards the resistance zone.
Once the price line touches the resistance level, sellers can enter the market and place their trades, anticipating a potential price drop. If the price line breaks below the ascending trend line after touching the resistance level, it could indicate a change in the upward trend and a possible reversal. Traders should keep an eye on the CADCHF price chart and be prepared to adjust their trades accordingly based on these key levels.
• There is a resistance level at 0.69137 followed by resistance at 0.69267 and 0.69390
• There is a support level at 0.68783. Below, there is 0.68613 and 0.68320.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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