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CADCHF on major channel resistance, possible further drop

FX:CADCHF   Canadian Dollar/Swiss Franc
CADCHF             is now testing our long term channel resistance once again and a further drop could occur from this level as it has respected the channel so well so far. Our 1st resistance is at 0.7438 ( Fibonacci retracement , horizontal overlap resistance) and our next support is all the way down at 0.7368 ( Fibonacci extension ).

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This analysis is provided as general market commentary and does not constitute investment advice.
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