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USDCAD facing bearish pressure, potential for more downside!

Oleh Tickmill
Broker
Prices are facing bearish pressure from 1st resistance which is in line with 161.8% fibonacci retracement and 127.2% fibonacci extension. Prices might push down towards 1st support which is in line with 61.8% fibonacci retracement. If prices push up further, prices might face resistance from 2nd resistance which is in line with -27.2% fibonacci retracement. Stochastics is also facing resistance from 91.31 level.
CADChart PatternsHarmonic PatternsTrend AnalysisUSDusdcadshort
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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