Look out for a potential bounce on weakness!
USDCAD is approaching its support at 1.2786 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support, Elliot wave structure) where price has the potential to bounce to its 1st resistance at 1.2946 (38.2% Fibonacci retracement, horizontal overlap resistance). We have also identified another support level at 1.2687 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its support at 2.49% where a corresponding bounce could occur.
Stochastic (89, 5, 3) is approaching its support at 2.49% where a corresponding bounce could occur.
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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.