CADCHF at critical level with potential reversal.
The confluent resistances provided by KS and 38.2 Fibo on the daily chart combined with the distance between closing price and TS are worrisome.
On the USDCAD the expected rate rise next Wednesday from the BOC is obviously already in the prices. On the USDCHF it's clear that CHF remains firm.
The remaining potential market mover to watch is of course OIL . On the daily chart USOIL first pierced but then retracted to close at the Fibo 50 just below the KS.
However the MACD bullish divergence and cross-over could be encouraging bullish continuation but more decisive for a possible reversal on CADCHF will be the release of US Crude stocks next Wednesday.
On the USDCAD the expected rate rise next Wednesday from the BOC is obviously already in the prices. On the USDCHF it's clear that CHF remains firm.
The remaining potential market mover to watch is of course OIL . On the daily chart USOIL first pierced but then retracted to close at the Fibo 50 just below the KS.
However the MACD bullish divergence and cross-over could be encouraging bullish continuation but more decisive for a possible reversal on CADCHF will be the release of US Crude stocks next Wednesday.
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