CAD/CHF carnage not over yet next target 0.6050

The currency pair has been falling since 6 June 2023...

It's gone on a strong downtrend channel, which has not been good for the Canadian Dollar.

Lately it's formed not one but TWO bearish chart patterns.

M Formation and Inv C&H

And the price has broken below both the neckline and brim level.

This means, there is more downside to come with a target of 0.6050.

Other indicators confirm the bearish momentum

200>21>7 - Bear market
RSI<50
Target 0.6050