- CAD/CHF is on the verge of a bullish correction.
- Bulls can target a confluence of the 38.2% Fibonacci, prior support and the 21-day EMA.
CAD/CHF has stalled at a daily support area and would be expected to move in on the prior support structure and target a 38.2% Fibonacci retracement that has a confluence of the 21-day EMA.
The following illustrates the bullish bias:
Daily chart
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With that being said, the bulls will need to get over the 50-day EMA first. At that point, the lower time frames can be monitored for a vantage point and bullish market structure to take advantage of.
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