USDCAD approaching support, potential bounce!
USDCAD is approaching our first support at 1.3142 (horizontal overlap support, 61.8% Fibonacci retracement, 100% Fibonacci extension, ascending channel’s support) where a strong bounce might occur below this level pushing price up to our major resistance at 1.3260 (horizontal swing high resistance, 78.6% Fibonacci retracement, 100%, 61.8% Fibonacci extension).
Stochastic (21,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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