2026-03-16 06:40:00
What’s worse than going 0 for 9 at the Oscars?
Missing a long-term trend pullback setup!
Here’s what’s unfolding on CAD/CHF’s daily chart:
The oil-linked Canadian dollar was among last week’s stronger major currencies, supported by the surge in crude oil prices and steady demand for the fellow American currency, the U.S. dollar.
The Swiss franc also drew some safe-haven interest, but its upside was capped by the dollar’s popularity and lingering intervention threats from the Swiss National Bank.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your homework on the Canadian dollar and the Swiss franc, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
CAD/CHF, which found support near the .5600 psychological level earlier this month, is now trading closer to the .5765 area, right around the daily chart’s 200 SMA.
That .5765 zone is doing a lot of technical heavy lifting. It sits near the R2 (.5753) Pivot Point line, lines up with the 61.8% Fibonacci retracement of December’s downswing, and is close to the top of a descending channel that has been in place since April 2025.
With wicks showing up on the latest candlesticks, traders may want to watch for fresh bearish candles that signal rejection from this cluster of resistance.
If CAD/CHF prints bearish candlesticks or starts holding below .5750, the pair could be setting up for a pullback toward the .5700 psychological handle, and possibly the .5620 prior support zone.
On the other hand, if bullish candlesticks keep printing and price holds above the 200 SMA and the .5800 psychological handle, CAD/CHF could push higher toward the .5850 December highs, and possibly the .5900 area above that.
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment.
Promoted: The Analysis & Strategy are only half the Battle; Your Mindset is the Rest.
Today’s chart art focuses in on CAD/CHF’s trend resistance opportunity. But as any pro will tell you, even the cleanest trend-following setup can fall apart if the trader doesn’t stay disciplined when price starts testing the level.
In “Unknown Market Wizards,” Jack Schwager interviews successful traders to reveal a common truth: their edge isn’t just knowledge or skills—it’s their psychological resilience and rigid risk control. Whether you’re navigating tariff shocks or safe haven flows into the franc, learn how the “wizards” stay clinical when the rest of the market is emotional.
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Please be aware that the technical analysis content provided herein is for informational and educational purposes only. It should not be construed as trading advice or a suggestion of any specific directional bias. Technical analysis is just one aspect of a comprehensive trading strategy. The technical setups discussed are intended to highlight potential areas of interest that other traders may be observing. Ultimately, all trading decisions, risk management strategies, and their resulting outcomes are the sole responsibility of each individual trader. Please trade responsibly.
