Downside pressure persists as the pair remains below key resistance.
The Canadian dollar continued to weaken against the Swiss franc, with CAD/CHF registering repeated daily closes below the critical resistance barrier at 0.6010. This sustained bearish behavior signals increased potential for further downside movement.
Supporting the bearish outlook, the stochastic indicator has declined toward the 50 level, suggesting growing negative momentum. If current conditions hold, analysts anticipate the pair could extend losses toward 0.5900, with the next downside target seen at 0.5780.
However, a break above the 0.6010 resistance level could temporarily halt the bearish trend, opening the door for a corrective rebound. In that scenario, CAD/CHF could see short-term gains toward 0.6060 and possibly 0.6110 before resuming its downward path.
The projected trading range for the day is between 0.5900 and 0.6000.
Trend Outlook: Bearish
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