Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

During yesterday’s trading session CAD/CHF traded within the range of 0.8360-0.8410 and closed at 0.8362.

At 6:19 GMT today CAD/CHF was losing 0.04% for the day to trade at 0.8360. The pair touched a daily high at 0.8356 at 4:45 GMT.

Fundamental view

The annualized index of consumer prices (CPI) in Switzerland probably rose 0.2% in June, after it gained 0.2% in May. In monthly terms, consumer prices probably gained 0.1% last month, following a 0.3% advance in May. In case the CPI accelerated more than anticipated, this would have a bullish effect on the franc. The official report is to be released at 7:15 GMT.

In addition, Retail Sales in the country probably jumped 1.5% in May compared to a year ago, following a 0.4% gain in the previous month.

The index measures the change in the value of sales made by retailers in the country. The amount of sales includes indirect taxes, but without discounts. Revenue from wholesale and the provision of those services are not included. The study includes 850 different business activities. Dealers of vehicles are also included, with the exception of those selling motorcycles. This is the percentage change compared to the corresponding month of the previous year.

The Federal Statistical Office will publish an official report at 07:15 GMT.

Technical view

Screenshot from 2014-07-08 09:24:09

According to Binary Tribune’s daily analysis, in case CAD/CHF manages to breach the first resistance level at 0.8395, it will probably continue up to test 0.8427. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8445.

If CAD/CHF manages to breach the first key support at 0.8345, it will probably continue to slide and test 0.8327. With this second key support broken, the movement to the downside will probably continue to 0.8295.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: EUR/CAD daily trading forecastForex Market: EUR/CAD daily trading forecast Yesterday’s trade saw EUR/CAD within the range of 1.4071-1.4213. The daily low has also been the lowest level since January 28th, when a low of 1.4062 was recorded. The pair closed at 1.4118, losing 0.32% on a daily basis and extending losses […]
  • Forex Market: GBP/CAD daily forecastForex Market: GBP/CAD daily forecast During yesterday’s trading session GBP/CAD traded within the range of 1.8394-1.8520 and closed at 1.8504, adding 0.59% for the day.At 6:55 GMT today GBP/CAD was losing 0.07% for the day to trade at 1.8496. The pair touched a daily low at […]
  • Forex Market: EUR/SEK daily forecastForex Market: EUR/SEK daily forecast During yesterday’s trading session EUR/SEK traded within the range of 9.0360-9.0727 and closed at 9.0656.At 6:10 GMT today EUR/SEK was gaining 0.08% for the day to trade at 9.0648. The pair touched a daily high at 9.0678 at 1:15 […]
  • Copper advances on China inflation data, record high importsCopper advances on China inflation data, record high imports Copper advanced in early European trading on Monday after Chinas National Bureau of Statistics reported that the Asian countrys consumer inflation advanced in September above analysts expectations, while producer inflation declined less than […]
  • Boeing shares fall the most in over a year on Monday, company may be interested in bidding for Canada fighter jets, says executiveBoeing shares fall the most in over a year on Monday, company may be interested in bidding for Canada fighter jets, says executive According to a senior executive from Boeing Company (BA), the US plane maker may be interested in participating in a bid for 88 fighter jets in Canada that are worth between CAD 15 billion and CAD 19 billion. Boeing is still reviewing the […]
  • Gold trading outlook: futures climb ahead of more US dataGold trading outlook: futures climb ahead of more US data Gold futures were slightly higher during early trade in Europe today, after equities were hurt by a worse-than-expected Chinese services PMI reading. Investors now eye the ISMs key US services PMI report later today.Gold futures for […]