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Canadian Dollar / Swiss Franc
Long
Updated

CADCHF Testing Key Support Level - Potential Buy Setup

CADCHF has reached significant demand zone. This zone has previously acted as a strong area of support, with multiple price reactions indicating buyer interest. The current market structure suggests a potential bullish correction at this level.

The anticipated scenario involves a bullish rejection from the demand zone, leading to a move upward toward the 0.62700 level. This aligns with a short-term correction or a potential shift in momentum if buyers regain control. A bullish confirmation, such as a strong engulfing candle or higher lows forming on the lower timeframes, could strengthen this setup.

If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!
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DanieIM
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DanieIM

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