CADCHF Showing Signs of a Deeper Recovery
CADCHF has broken out of a falling channel on the hourly chart, suggesting the sell-off may have run its course.
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.
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