USDCAD approaching resistance, potential drop!
USDCAD is approaching our first resistance at 1.2861 (horizontal overlap resistance, 78.6% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.2653 (horizontal overlap support, 61.8% Fibonacci retracement).
Stochastic (89) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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