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USDCAD approaching support, potential bounce!

Oleh Tickmill
Broker
USDCAD is approaching our first support at 1.3331 (horizontal pullback support, 38.2% Fibonacci retracement, 100% fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.3416 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89,5,3) is approaching support as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

CADChart PatternsHarmonic PatternsTrend AnalysisUSDUSDCADusdcadlong
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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