CADCHF is showing a clear descending channel structure where price has been moving lower within well defined boundaries. The recent bearish wave completed a five wave impulsive move to the downside reaching the lower boundary of the channel near wave 5 and point C, which aligns with a potential exhaustion zone. This suggests that the pair could be preparing for a corrective rebound after extended selling pressure. The highlighted support area strengthens the case for a possible upside move as buyers may step in to defend this level. A reaction from this zone could trigger a retracement toward the mid or upper Resistance of the channel offering a short term bullish opportunity while the broader trend remains bearish.