USDCAD approaching resistance, potential drop!
USDCAD is approaching our first resistance at 1.2960 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.2858 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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