CAD/CHF still remains in favor of the bears
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CAD/CHF is recovering from October 25th lows and remains below the 200 SMA at H1 chart. The 200 SMA still provides dynamic resistance and it coincides with the Fibonacci level of 65% at 0.7788. We’re expecting a re-take of the bearish trend across the board, with a first target placed at 0.7703, ahead of the 0.7672 level, which is the -23.6% Fibo zone.
RSI indicator is entering at the negative territory, supporting the bearish scenario.
