CAD/CHF approaching resistance, potential drop!

The CAD/CHF pair is approaching our first resistance at 0.7544 (horizontal pullback resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing the price down to our major support at 0.7502 (50% Fibonacci retracement).

Stochastic (89,5,3) is also nearing resistance where we might see a corresponding drop in price.

Trading CFDs on margin carries high risk.

Losses can exceed the initial investment, so please ensure you fully understand the risks.

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The material has been provided by InstaForex Company - www.instaforex.com

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