Considering the Canadian dollar’s dependence on oil and the Swiss franc as a haven currency reacting last to the market, the exoticism in this currency pair is more than great.
On the weekly chart, it makes an impression that we have reached the target level, but continue to stay there. We are currently making a fourth test, which in turn makes it possible to talk about the sustainability of the target reached.
Note how the market has reacted each time the target has been touched – with a correction.
At the moment it is better to open a long position with the appropriate management suitable for the weekly frame with a target as shown on the chart.
In case of a bearish break of the current level the market will come back here anyway i.e. the open position is insured.
