USDCAD facing bearish pressure, potential for more downside!

498
USDCAD is facing resistance from 1.23134 level which is in line with 50% FIbonacci retracement and 100% Fibonacci extension. Prices might push down towards 1st support in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension. If prices push up, prices might face resistance from 2ns resistance in line with 50% Fibonacci retracement. Ichimoku cloud is also above prices, showing a bearish pressure for prices.

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.