As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
The closest is the 20 day average, which is 13.3 pips away.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
Volatility for cad/chf has been contracting over the past two weeks relative to volatility over the past month.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
The closest is the 50 day average, which is 20.4 pips away.
It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign.
This imputes a buy/sell ratio of 2.5, which is bullish.
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.