CADCHF currency pair under bearish pressure today after the price reversed down from the resistance area set between the multi-month resistance level 0.70500 (which has been reversing this currency pair from the start of
November) and the upper daily Bollinger Band. The downward reversal from this resistance area created the second consecutive Japanese candlesticks reversal pattern Bearish Engulfing. Given the strongly bullish Swiss franc sentiment seen across the currency markets today – CADCHF currency pair is likely to fall further toward the next support level 0.69850 (former resistance from the end of January). Strong resistance remains at the resistance level 0.70500