This is a pair that has not bounced as much as many other assets. This does make a certain amount of sense considering that Canada has cut rates twice now and the Swiss have only done it once. Ultimately, this is a market that is highly influenced by risk appetite. And perhaps even you should think about the impression of crude oil in this market.

0.63 is a Major Level Worth Paying Attention To.

Ultimately, I do think that the 0.63 level is a major support level in this market, so you do need to mark that on your chart and pay close attention to it. But I also recognize that this is a bit of a a cross-pair that a lot of people will be watching. I'll be paying close attention to the 0.63 level, because if we do bounce significantly from there, it could be a turnaround on the monthly chart. We'll just have to see whether or not a double bottom occurs. One thing that you can do is perhaps put an oscillator on the chart to get an idea as to whether or not things are turning around.

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So, the moving average convergence divergence indicator could be one that you use to back up the momentum question. Really at this point in time, it's not necessarily a pair that I'm willing to sell because there's a lot of support underneath, but I'm not ready to start buying it either. The reason I have brought this to your attention is this could be a move over the next couple of days. So, I want you to have the chart on your platform and to keep an eye on it.

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