CADCHF Approaching Key Support – Rebound Toward 0.61890?

Mar 4

CADCHF is approaching a key support zone, marked by strong buying pressure. This area has historically served as a demand zone, suggesting the potential for a bullish reversal if buyers step in.

The current market structure indicates that if the price confirms a rejection from this support zone, there is a high probability of an upward move. I anticipate that if buyers defend this level, the market may head higher toward the 0.61890 target, which represents a logical target within the current market structure. However, a break below this support would invalidate the bullish bias and could lead to further declines.

If you have any thoughts on this setup or see an alternative perspective, feel free to comment!

Mar 12

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