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CADCHF Nears Significant Resistance – June 26, 2024

CADCHF Price Analysis

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Recent movements in the CADCHF price have seen multiple corrective bullish waves, pushing above the MA55 indicator and settling near 0.6555. Notably, 0.6564 has emerged as a pivotal resistance level, influencing current trading dynamics.

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Given this setup, a bearish outlook is suggested, targeting initial levels at 0.6525 followed by 0.6490 as the primary downside objectives. The stochastic indicator’s approach towards overbought territory supports expectations of easing positive pressures, potentially gathering momentum for the aforementioned bearish targets.

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Expected Trading Range

  • Support: 0.6565
  • Resistance: 0.6590

Trend Forecast: Bearish

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