The Canadian Dollar depreciated about 1.79% in value against the Swiss Franc during last week’s trading sessions. The currency pair tested a psychological support level at 0.7500 on November 1.
The exchange rate is currently trading near a support cluster formed by the 50– and 100– period SMAs and the weekly pivot point at 0.7546.
If the support cluster holds, bullish traders could drive the price towards the 0.7640 area during next week’s trading sessions.
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However, if the currency exchange rate breaks the 50– and 100– hour SMAs, a decline towards a swing low at 0.7455 could be expected within the following trading sessions.
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