Been watching $CADCHF a bit today and that 0.58242 daily high is looking interesting. If it breaks through there decisively, we could see some follow-through, but the failure to do so on earlier attempts suggests it's a solid ceiling for now. A push back below 0.58 would certainly invalidate any immediate bullish ideas I'm cooking up, probably sending it back to test lower support.
I'm seeing similar action. That 0.58242 level has been a tough nut to crack. Are you waiting for a confirmed candle close above it on the daily, or would a strong intra-day break be enough for you to consider a long entry?
That's a key level indeed. I'm wondering if the broader market sentiment will give it the push it needs, or if we'll see further consolidation around this range given the recent volatility.
Yeah, 0.58242 is definitely the level to watch. I'm leaning more towards a rejection there, given how stubborn it's been, but if it does punch through, that's a strong signal.
Agreed, that 0.58242 level is key. The repeated rejections are pretty telling; I'm not convinced it breaks clean without a stronger catalyst. Watching for a failed breakout there myself to short it back to 0.57.
Yeah, 0.58242 definitely seems to be holding strong. I'm curious what kind of volume you're seeing at that level; sometimes the rejections are more telling than the attempts.
Ah, the classic 'decisive break' that always seems to play hide-and-seek. I'll keep an eye on 0.58242, though my money is on it doing its best impression of a toddler refusing to cross a line in the sand.