Nice idea on CADCHF and there may be bearish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first resistance that we have identified is at 0.7472 (61.8% & 100% Fibonacci extension, 50% Fibonacci retracement, Horizontal overlap resistance), which is just below the resistance level that you have identified. Stochastic is approaching its resistance at 97% where a corresponding reversal could occur. If a reversal does occur, we may look at the 0.7416 support level (50% Fibonacci retracement , horizontal swing low support).
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.