Analysis CAD/CHF
At the basic level
CAD/CHF declined during trading today in light of the scarcity of Swiss and Canadian data today, but the Canadian currency declined due to the decline in oil today after a sharp rise in US oil inventories raised concerns about demand, and the US Energy Information Administration is scheduled to release its official data later on Wednesday.
At the technical level
The Canadian franc pair is trading today inside an ascending price channel on the four-hour frame, as the pair is trying to break this channel down near the support levels of 0.5930, which if broken down will open the way for further retracements of the pair to target the levels of 0.5875/50.
Where then the pair has completed the shark harmonic or Nen star model, from which we can start thinking about buying the pair to target the main downtrend.
