CADCHF Showing Signs of a Deeper Recovery

CADCHF has been in a sharp downtrend, but the hourly chart is now showing a clean breakout above the resistance line of a falling channel. This type of structure often precedes a momentum shift, especially when the pair was already deeply oversold.

I am looking at this as a potential continuation move toward the upper end of the recent range. The breakout is clean and volume confirms the shift, but I still want to see a retest of the broken trendline hold before adding size.

Risk management remains key here. A failed breakout could mean another leg lower, so I keep my eye on the structural support below. For now, the bias is bullish as long as that line holds on the daily.