USDCAD is approaching our first support at 1.28916 (horizontal swing low support, 61.8% Fibonacci extension , 78.6% Fibonacci retracement ). A strong bounce might occur at this level pushing price up to our major resistance at 1.30000 (horizontal swing high resistance,38.2% Fibonacci retracement). A breakout of our intermediate resistance level at 1.30000 (Horizontal overlap resistance, 50% Fibonacci retracement ) might provide further bullish acceleration to our major resistance level .
RSI (default) is also approaching its major support level at 21.08%, a good precursor for a potential rise in price should it bounce off this level.
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RSI (default) is also approaching its major support level at 21.08%, a good precursor for a potential rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.