FxWirePro: CAD/CHF on track to close higher for the 3rd straight week, bias higher

CAD/CHF chart on Trading View used for analysis

• CAD/CHF hovers around 110-EMA, intraday bias higher.
   
• The pair is on track to close higher for the 3rd straight week.
   
• Momentum studies are bullish, RSI sharply higher, MACD supports upside.
   
• Focus on Canada inflation data due later today for further impetus.
   
• Analysts expect headline inflation to be depressed by the slump in energy prices.
   
• A drag on core figures, given the persistently weak wage growth could add to pressure on BoC.
   
• Immediate support is seen at 110-EMA at 0.7488. Break below 5-DMA at 0.7456 could see further weakness.
   
• Decisive break above 110-EMA to see test of 200-DMA at 0.7558.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.