Watching $CADCHF near recent highs – potential resistance ahead?
Hey everyone, just looking at $CADCHF this morning and noticed it's made quite a move, currently sitting around 0.57958. It's been on a decent run from the lows of the day, pushing up towards the 0.57997 high.
I'm curious about this level. Zooming out a bit on the daily, it feels like we're approaching an area that has previously acted as resistance. If it manages to punch through 0.58000 convincingly, I'd be rethinking this, but for now, I'm just observing to see if there's any hesitation here. The risk, of course, is that momentum simply carries it higher, especially if there's any unexpected news that could further strengthen CAD or weaken CHF. Definitely not jumping in either way, just keeping an eye on how it reacts around these levels for potential setups later.
Ah, the age-old question: will it punch through, or will it respectfully acknowledge the ceiling? Place your bets now, folks, before the market makes up its own mind with absolutely no regard for our opinions.