CADCHF Bullish Breakout: Key Levels to Watch

The market has been in an uptrend, forming higher highs and higher lows after a previous strong downtrend.

Currently, CADCHF is testing a key resistance level (0.6185 - 0.6190), with signs of consolidation.

A slight retracement is expected before a potential breakout to the upside.

Key Levels:
Resistance Levels:

0.6225 – First target after breakout.

0.6265 – Major resistance zone and final target.

Support Levels:

0.6130 - 0.6140 – Potential retest zone before further upside.

0.6050 – Strong demand zone (invalidates bullish bias if broken).

Trade Plan:
📉 Pullback Entry: Waiting for a small retracement to the 0.6140 zone before entering long.
📈 Bullish Breakout Confirmation: A break and close above 0.6190 could confirm further upside towards 0.6225 - 0.6265.

Final Outlook:
Bias: Bullish above 0.6140, bearish below.

Risk Management: Stop loss below 0.6130.

Potential Reward: A successful breakout can provide +80 pips upside.