USDCAD approaching support, potential bounce!

USDCAD is approaching our first support 1.3198 (Horizontal swing low support, 100% fiboancci extension, 50% Fibonacci retracement) and a strong bounce might occur pushing price up to our major resistance at 1.3269 (Horizontal overlap resistance, 50% fibonacci retracement).
Stochastic (34, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
CADChart PatternsForexforexsignalforextradingHarmonic PatternsTrend AnalysisUSDUSDCADusdcadlongusdcadshort

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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