USDCAD facing bearish pressure, potential for more downside!
Prices are facing bearish pressure from horizontal swing high resistance which is in line with 100% Fibonacci extension and 61.8% Fibonacci retracement as well as descending trendline resistance. Prices might push down further to 1st support which is a horizontal swing low support in line with 127.2% FIbonacci retracement and 127.2% FIbonacci extension. If prices push up further, prices might face resistance from 161.8% FIbonacci retracement and 127,2% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.
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