CAD/CHF Eyeing Key Reversal: Watch the 0.66 Pivot!

The chart indicates that the CAD/CHF currency pair may be heading for a retracement starting around the 0.6610 level. This area is significant because it coincides with the 0.5 Fibonacci level where previously we saw a sharp price increase, suggesting it's a strong order block level. The trend from 0.6463 to 0.6720 shows strong bullish momentum. Both the Fibonacci and the order block levels highlight a key zone ranging from 0.6610 to 0.6587. For this scenario, a stop loss is recommended below the 0.6588 level.