USDCAD is facing bearish pressure from its first resistance at 1.2791, in line with the 23% fib retracement and horizontal overlap resistance, where we could see a further drop above this level towards 1st support where 100% fib extension is. Trendline suggests that a pullback is possible before the drop.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.