USDCAD approaching support, potential bounce!
USDCAD is approaching our first support at 1.3053 (horizontal pullback support, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) which coincides with our short term ascending support line and a strong bounce might occur above this level pushing price up to our major resistance at 1.3222 (horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (89,5,3) is also bouncing off our support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also bouncing off our support where we might see a corresponding rise 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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