USDCAD facing bearish pressure, potential for more downside!
Prices are facing bearish pressure from descending trend line resistance, horizontal pullback resistance which is in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Prices might push down further towards 1st support which is a horizontal swing low support which is in line with -27.2% Fibonacci retracement and 100% Fibonacci extension. If prices push up and break the descending trendline resistance, prices might face resistance from 2nd resistance in line with 100% Fibonacci extension and 50% Fibonacci retracement. Ichimoku cloud is also above prices, showing bearish pressure for prices.
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