USDCAD facing bearish pressure, potential for more downside!

12 мая 2021 г.

USDCAD is facing bearish pressure from descending trendline resistance as well as horizontal pullback resistance and is in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push down towards -27.2% Fibonacci retracement and 100% Fibonacci extension fibonacci confluence zone. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 50% Fibonacci retracement. Ichimoku cloud is also above prices, showing a bearish pressure for prices.