USDCAD is approaching its support, potential bounce!
USDCAD is approaching its support at 1.2786 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support) where it a bounce could happen, causing price to rise to its 1st resistance at 1.2866 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal pullback resistance). If price surpasses this resistance, it could rise to its 2nd resistance at 1.2955 (50% Fibonacci retracement, horizontal swing high resistance). We have also identified another support at 1.2687 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is also approaching its support at 2.4% where a corresponding reaction could occur.
Stochastic (89, 5, 3) is also approaching its support at 2.4% where a corresponding reaction 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.