USDCAD is facing bullish pressure from 1st support level which coincides with a 50% fibonacci extension. Prices might bounce towards 1st resistance which coincides with 61.8% fibonacci extension and 61.8% fibonacci retracement. If prices fall through 1st support, prices might reach 2nd support which coincides with -27% fibonacci retracement and 100% fibonacci extension. Stochastics is also reaching 6.02 support level.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.