Since this week’s trading sessions, the Canadian Dollar has declined by 82 pips or 1.12% against the Swiss Franc. The currency pair tested the lower boundary of an ascending channel pattern at 0.7226 on September 9.
Everything being equal, the exchange rate could continue to trend lower. Sellers are likely to target the psychological support level at 0.7100 during next week’s trading sessions.
However, if the channel pattern holds, the CAD/CHF currency exchange rate would make a pullback towards the resistance line at 0.7375 next week.