USDCAD approaching resistance, potential drop!
USDCAD is approaching our first resistance at 1.3331 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 1.3215 (horizontal pullback support, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching our major resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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