The CADCHF currency pair on the Daily Chart has been in a downtrend since 28 October 2019 when it registered the high price at 0.76376. Subsequently, the price displayed a series of lower tops and lower bottoms. On 21 November 2019, the CADCHF currency pair recorded the low price of 0.74252. When applying Oscillator Analysis to the price chart, one can see that price is trading below the SMA 60 period Moving Average line, a fact which confirms the CADCHF currency pair's downward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values below the zero line which hints to the bearish bias of financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values below the fifty line which indicates negative sentiment. All three technical indicators are in agreement with regards to the downward bias of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 0.74322 (161.8%). The second price target is seen at 0.73464 (261.8%). The third price target is projected at 0.72076 (423.6%). The first target was reached successfully. The CADCHF currency pair is currently trading above the downtrend line, which signals the weakness of the bears to maintain the downward bias. The presence of the Bullish Engulfing pattern hints at a potential rally to the upside. Of course, supply and demand as well as the crowd sentiment will determine the course of CADCHF currency pair. Though the market is currently following the counter trend direction, this might just be a correction, as long-term trend remains bearish.