USDCAD approaching support, potential bounce!
USDCAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce might occur above this level to our major resistance at 1.3381 (horizontal pullback resistance, 61.8% Fibonacci retracement).
Stochastic (34,5,3) 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.
Stochastic (34,5,3) 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results