CADCHF: Symmetrical Triangle

CADCHF, Daily

In the Daily time frame, the CADCHF navigates within a symmetrical triangle and tests its lower border.

The 50—and 100-MA cross the 200-MA down, and the Momentum oscillator crosses the100-line down, suggesting a potential bearish sentiment.

• If the price breaks above the 0.6310 resistance, it will open the way for a rise to the 0.6400 level;
• However, breaching below 0.6250 and a lower border of the pattern will drop the asset back to 0.6150 support.