CAD/CHF 4H Chart: Bulls Likely To Prevail

The Canadian Dollar has surged by 92 pips or 1.26% against the Swiss Franc since this week’s trading sessions. The currency pair breached the 50– period simple moving average at 0.7428 on March 24.

Technical indicators suggest buying signals on the 4H time-frame chart. The exchange rate is likely to continue to soar in an ascending channel pattern during the following trading sessions.

However, the weekly resistance level at 0.7467 could provide resistance for the CAD/CHF currency exchange rate in the shorter term