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USDCAD approaching resistance, potential drop

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Dollar A.S. / Dollar Kanada (FX:USDCAD)  
easyMarkets Broker  
FX:USDCAD   Dollar A.S. / Dollar Kanada
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals
USDCAD is approaching our first resistance at 1.3121 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2966 (100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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