Nice idea on CADCHF and there may be bearish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first resistance that we have identified is at 0.7457 (100% Fibonacci extension , 76.4% Fibonacci retracement, horizontal swing high resistance), which lies above the resistance zone that you have identified. Stochastic is approaching its resistance at 95% where a corresponding drop could occur. If a drop does occur, we may look at the 0.7375 support level (61.8% Fibonacci extension , 76.8% Fibonacci retracement).
Please have a look at our idea and share with us what you think.
Please have a look at our idea and share with us what you think.