USDCAD approaching support, potential bounce!
Price is approaching our first support at 1.2952 (horizontal swing low support, 50%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance at 1.3069 (horizontal overlap resistance, 38.2%, 23.6% Fibonacci retracement, 61.8% Fibonacci extension)
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching its support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching its support where we might see a corresponding rise 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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