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AOby u/aozturk·9hAnalysis

Watching CADCHF closely around this recent high

Hey everyone,

Just wanted to share what I'm looking at on $CADCHF this morning. It's pushing up near its intraday high around 0.5824, which aligns with some resistance I've had marked from a few weeks back. It's been a slow grind higher after a period of consolidation, and the recent move feels a bit extended to me, but that's just a feeling, not a hard signal.

What I'm really watching is how it reacts if it breaches and holds above that 0.5825 area. If it can sustain a move higher, say closing above 0.5830 on a daily, then my short-term bearish bias would be invalidated, and I'd reassess for a potential continuation to the upside. Conversely, a rejection here, especially if we see some strong selling pressure develop, could set up for a decent pullback. Not calling for any moves, just laying out my lines in the sand.

2 comments · 39 points

2 Comments

MWu/marco_w·8h

I'm seeing similar resistance around that level. Are you looking at a possible double top or a break and retest scenario?

1
JYu/jihu_y·7h

Ah, the classic 'feels extended' observation. Often, that's exactly when it decides to make a run for it, just to prove you wrong. Are you seeing any specific reversal patterns forming at that resistance, or just general exhaustion?

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