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CADCHF Bearish Continuation

I see CADCHF continuing lower after the recent breakdown of a key support zone. The retest of that level confirms the bearish structure.

CADCHF Bearish Continuation

I see CADCHF continuing lower after the recent breakdown of a key support zone. The retest of that level confirms the bearish structure. My bias remains short on the 1H timeframe, and I will only consider that direction as long as price respects the old support as resistance. The risk profile favors sellers here, but patience for confirmation is essential.

Comments5

  • Priya Nair
    Good observation on that retest confirming the structural breakdown. 📈 Just note that CAD’s recent oil sensitivity could add volatility here—worth watching WTI for confirmation before adding to the short.
  • Tom Fielding
    Support break looks clean, but the retest volume is thin. Watch for a false breakout trap before adding shorts.
  • Sofia Reyes
    Interesting take on the retest confirming the breakdown. 🤔 But isn't there a risk that this "support" was just a liquidity grab before a bounce? Curious how you're managing that false-breakout scenario.
  • Hiro Tanaka
    Agree on the retest play. 0.6440-0.6450 zone is now resistance; a rejection there keeps the path to 0.6350 open.
  • Marcus Vega
    Spot on. The retest rejection at 0.6520 is textbook. Bias is bearish until price reclaims that zone with volume. 🚀