Look out for a potential bounce on weakness!
USDCAD is approaching its support at 1.2786 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback support, Elliot wave structure) where price has the potential to bounce to its 1st resistance at 1.2946 (38.2% Fibonacci retracement, horizontal overlap resistance). We have also identified another support level at 1.2687 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its support at 2.49% where a corresponding bounce could occur.
Stochastic (89, 5, 3) is approaching its support at 2.49% where a corresponding bounce could occur.
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