Graphics: Is CAD/CHF Waiting for a Double Bottom Breakout?

CAD/CHF climbs to top of its Double Bottom pattern ahead of key Canadian data release!

The pair is flirting with a breakout, but the bears are circling and trying to hold the price below the 0.5750 line.

Will we see a breakout to the upside in the next trading sessions?

If you were too busy debating why Pantone chose ̶W̶h̶i̶t̶e̶ Cloud Dancer as the Color of the Year 2026, Canada was vacillating and missing its data this week. Manufacturing PMI, quarterly labor productivity and IVEY PMI came in softer than markets expected.

Nevertheless, rising oil prices and a risk-on trading environment associated with Fed rate cut expectations are helping the oil-linked currency rise. This support is most evident against safe havens such as the Swiss franc, giving CAD/CHF a modest bullish bias.

Remember that movements in the direction and conditions of market price volatility are usually driven by fundamental factors. If you haven’t done your homework yet Swiss Franc and Canadian dollarthen it’s time to look at the economic calendar and stay up to date with the daily top news!

CAD/CHF, which has been stuck below the 0.5750 level since September, is moving into a resistance zone as markets become more comfortable with the idea of ​​a Fed rate cut.

What makes this setup more interesting today is that it has what looks like a double bottom pattern that could open the door for a stronger move to the upside if the pair breaks through the .5750 resistance and the 100 SMA.

Watch for green candlesticks and sustained action above 0.5750 as this could set CAD/CHF up for a run to the 0.5900 psychological handle, which is near the R2 pivot line at 0.5860 and the 200 SMA area.

If sellers instead emerge and the red candles take over, a turn below the zone could pull CAD/CHF back to familiar inflection points such as the .5700 level or the previous support area around .5650.

Whichever bias you trade, remember to practice proper risk management and watch for higher-level catalysts that can affect overall market sentiment.

Disclaimer:
Please note that the technical analysis content provided here is for informational and educational purposes only. It should not be construed as trading advice or offering any particular direction. Technical analysis is only one aspect of a comprehensive trading strategy. The technical setups discussed are meant to highlight potential areas of interest for other traders to observe. Ultimately, all trading decisions, risk management strategies and their resulting results are the sole responsibility of each individual trader. Trade responsibly.