Forex Market: CAD/CHF daily forecast

During yesterday’s trading session CAD/CHF traded within the range of 0.8164-0.8233 and closed at 0.8226.

At 6:30 GMT today CAD/CHF was gaining 0.08% for the day to trade at 0.8232. The pair touched a daily high at 0.8237 at 5:50 GMT.

Fundamental view

Retail Sales in Switzerland probably jumped 3.5% in April compared to a year ago, following a 3% gain in the previous month, that was the biggest since November 2013.

The index measures the change in the value of sales made by retailers in the country. The amount of sales includes indirect taxes, but without discounts. Revenue from wholesale and the provision of those services are not included. The study includes 850 different business activities. Dealers of vehicles are also included, with the exception of those selling motorcycles. This is the percentage change compared to the corresponding month of the previous year.

The Federal Statistical Office will publish an official report at 07:15 GMT.

Technical view

Screenshot from 2014-06-10 09:14:49

According to Binary Tribune’s daily analysis, in case CAD/CHF manages to breach the first resistance level at 0.8251, it will probably continue up to test 0.8277. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8320.

If CAD/CHF manages to breach the first key support at 0.8182, it will probably continue to slide and test 0.8139. With this second key support broken, the movement to the downside will probably continue to 0.8113.

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