CADCHF: Trading range support offers potential trade setup
Over daily studies, the CADCHF pair has found a string support in the 0.7585 regions, which pushed the pair mildly upwards since the opening of this week.
Sideways trading range has been traced starting from February 2015 and its support may protect the recently established bullish impetus, as traders may aim to re-test its upper once again.
Still, technical indicators didn’t adopt a favorable reaction to the current week bullishness but they improving with RSI14 attaching the value of 50.00 and Vortex turning slightly positive.
Areas of 0.7750 is the clue for bulls; however, long positions are preferable as long as 0.7585 holds.