The Canadian Dollar has surged by 115 pips or 1.60% against the Swiss Franc since this week’s trading sessions. The currency pair breached the 50– and 200– period SMAs on September 23.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. The exchange rate could continue to edge higher in an ascending channel pattern during next week’s trading sessions.
However, the currency exchange rate could encounter resistance at 0.7340 within this week’s session.