SHORT USDCAD approaching support, potential bounce!
USDCAD is approaching our first support 1.3198 (Horizontal swing low support, 100% fiboancci extension, 50% Fibonacci retracement ) and a strong bounce might occur pushing price up to our major resistance at 1.3269 (Horizontal overlap resistance, 50% fibonacci retracement ).
Stochastic (34, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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.