$FX_IDC:CADPHP
Current Price: ₱41.337
Recent High: ₱43.092
Recent Low: ₱39.631
Timeframe: Daily chart
The FX_IDC:CADPHP currency pair is currently exhibiting signs of bullish momentum, trading around the ₱41.337 level, which aligns closely with the 50% Fibonacci retracement zone—a key area of consolidation. Technical indicators suggest a potential breakout, as the price is testing descending trend lines and approaching the 61.8% retracement level at ₱41.770. The RSI reading of 63.23 supports this upward bias, indicating strength without being overbought. However, mixed candles reveal some market indecision, implying that traders should remain cautious. A sustained move above ₱41.770 could open the path toward ₱42.366 and ₱43.124, while failure to break resistance may trigger a pullback toward ₱40.934 or lower. Overall, the pair is at a critical juncture, and the next few sessions could determine whether a bullish reversal is confirmed or if the downtrend resumes.
