USDCAD is approaching our first support at 1.3295 (horizontal swing low support, short term ascending line) where a strong bounce might occur above this level pushing price up to our first resistance level at 1.3407 (horizontal swing high resistance, 61.8% Fibonacci extension , 61.8% Fibonacci retracement ).
Stochastic is also approaching support where we might see a corresponding bounce in price.
USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement , 100%, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.3381 (horizontal pullback resistance, 61.8% Fibonacci retracement). Stochastic (34,5,3) is nearing support as well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce to our major resistance level at 1.3347 (50% Fibonacci retracement) might occur. Stochastic (89,5,3) is also nearing support where we might see a bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.
