Pre-Market Analysis โ CAD/CHF1๏ธโฃ The price has broken below the previous support zone, which had held multiple times in the past. This area is now likely to act as a new resistance.
2๏ธโฃ The bottom boundary of the descending channel has been touched, signaling a potential reaction or short-term bounce from this level.
3๏ธโฃ Itโs quite probable that the price retraces back to the midline of the channel before continuing its downward move. This would be a classic pullback within a bearish channel structure.
๐ If price fails to reclaim the broken support and reacts bearishly near the resistance-turned zone or the channelโs midline, it could provide a solid continuation setup to the downside.