USDCAD approaching support, potential for a bounce!
USDCAD is approaching its support area between 1.2788 (38.2% Fibonacci retracement ) and 1.2760 (100% Fibonacci extension ) where a bounce could occur, causing price to potentially rise to its 1st resistance at 1.3002 (horizontal swing high resistance). We have also identified another support level at 1.2720 (50% Fibonacci retracement , 76.4% Fibonacci retracement , 38.2% Fibonacci retracement ).
Stochastic (34, 5, 3) shows its approaching its support at 1.66% where a corresponding reaction could occur.
Stochastic (34, 5, 3) shows its approaching its support at 1.66% where a corresponding reaction could occur.
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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.