USDCAD approaching resistance, potential drop!
USDCAD is approaching our first resistance at 1.2944 (horizontal swing high resistance) and a strong reaction might occur below this level, pushing price down to our major support at 1.2817 (horizontal overlap support, 23.6% Fibonacci retracement).
Stochastic (89) is also approaching major resistance and a reaction off that level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89) is also approaching major resistance and a reaction off that level might be a good precursor for a potential drop in price.
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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