USDCAD Testing support, potential for bounce | 29 June 2021
USDCAD holding above ascending trendline support with technical indicators showing room for further bullish momentum. A further push up above our entry at 1.23224 towards Fibonacci confluence zone where we have both 61.8% Fibonacci extension and -61.8% Fibonacci retracement lining up at 1.24033 could be possible. MACD is looking to cross above the 0 level which confirms an increase in bullish momentum.
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