#USDCAD approaching pivot, potential for a reversal!
Price is approaching pivot level of 1.25809, which is in line with 78.6% Fibonacci retracement levelhorizontal overlap support. A reversal from this level may see price take resistance at price 1.28152. This level coincides with 61.8% Fibonacci retracement level. Finally, we can expect price to take support at 1.249horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
1.25809
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.24900
horizontal swing low support
1st Resistance:
1.28152
61.8% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Pivot:
1.25809
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.24900
horizontal swing low support
1st Resistance:
1.28152
61.8% Fibonacci retracement level
Trading FX & CFDs carries high risk.
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.
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.