CADCHF is trading on a strong key level. 0.736 - 0.738 is major historical resistance. The price formed a peculiar dodji candle on that on a daily.
On hourly time frame, we see a local consolidation & indecision within a narrow horizontal trading range. Our confirmation to short will be its bearish breakout (hourly candle close below its support). Selling on a retest we can catch a nice pullback trade. Goals: 0.7335/0.7305
In case of a bullish breakout of the range though, bullish continuation will be expected and our selling setup will become invalid.
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