The CADCHF is currently finishing a Descending Wedge, which typically serves as a trend continuation pattern.
A decisive breakout above its upper boundary would entail the likely continuation of the uptrend.
Before this happens, however, the price action is likely to fall to 0.73900 one more time, which would allow bulls to enter long at the resulting dip. Afterwards, the CADCHF could climb as high as the psychological resistance level at 0.75000.
That is, if the price action manages to penetrate above the 23.6 and 38.2 per cent Fibonacci retracement levels.
A decisive breakout above its upper boundary would entail the likely continuation of the uptrend.
Before this happens, however, the price action is likely to fall to 0.73900 one more time, which would allow bulls to enter long at the resulting dip. Afterwards, the CADCHF could climb as high as the psychological resistance level at 0.75000.
That is, if the price action manages to penetrate above the 23.6 and 38.2 per cent Fibonacci retracement levels.