USDCAD Approaching Support, Potential Bounce!
USDCAD is approaching its support at 1.3122 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce off and rise to its resistance at 1.3267 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance).
We do have to be cautious of the intermediate resistance at 1.3208 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic ( 55, 5, 3) is approaching its support at 2.06% where a corresponding rise could occur.
We do have to be cautious of the intermediate resistance at 1.3208 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic ( 55, 5, 3) is approaching its support at 2.06% where a corresponding rise could occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.