CADCHF testing resistance, potential drop!
CADCHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price could potentially drop to its major support at 0.7480 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (55) is also approaching resistance where we will see a corresponding drop in price.
RSI (55) is also approaching resistance where we will see a corresponding drop in price.
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