LONG CADCHF Approaching Support, Prepare For A Bounce
r ago
CADCHF is approaching its support at 0.7464 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 0.7514 (50% Fibonacci retracement , horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks is approaching its support where we expect to see a bounce.
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IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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