#USDCAD in ascending channel, potential for further upside
Price is above pivot level at 1.27015, in-line with 61.8% Fibonacci retracement, 100% Fibonacci extension and ascending channel trendline. Price could potentially bounce higher to resistance at 1.29500, in-line with 100% Fibonacci retracement, 100% Fibonacci extension and swing high resistance. Stochastic is also at ascending trendline support for further bullish momentum.
Alternatively, price could drop to support at 1.26510, in-line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension.
Pivot:
1.27015
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and ascending channel trendline
1st Support:
1.26510
78.6% Fibonacci retracement and 127.2% Fibonacci extension
1st Resistance:
1.29500
100% Fibonacci retracement, 100% Fibonacci extension and swing high resistance
Trading FX & CFDs carries high risk.
Alternatively, price could drop to support at 1.26510, in-line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension.
Pivot:
1.27015
Why we like it:
61.8% Fibonacci retracement, 100% Fibonacci extension and ascending channel trendline
1st Support:
1.26510
78.6% Fibonacci retracement and 127.2% Fibonacci extension
1st Resistance:
1.29500
100% Fibonacci retracement, 100% Fibonacci extension and swing high resistance
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.