USDCAD facing bearish pressure, potential for more downside!
Prices are facing bearish pressure from 1st resistance which is in line with 161.8% fibonacci retracement and 127.2% fibonacci extension. Prices might push down towards 1st support which is in line with 61.8% fibonacci retracement. If prices push up further, prices might face resistance from 2nd resistance which is in line with -27.2% fibonacci retracement. Stochastics is also facing resistance from 91.31 level.
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.