CAD/CHF: Broken support now acting as resistance
|Price Action Context
Following a strong double rejection at the LT resistance around 0.70, price broke cleared a short-term support and resistance zone which acted as both resistance and support in the past, now again acting as resistance, rejecting price to the downside.
Trending Analysis
Short-term bias is bearish, and traders can look for potential shorting opportunities on weak pullbacks into the resistance zone with the next support starting to come in at around 0.6855.
Closest Support & Resistance Zones
Resistance: 0.6915 – 0.6940
Support: 0.6840 – 0.6855
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