USDCAD approaching resistance, potential drop!
USDCAD is approaching our first resistance at 1.3386 (horizontal overlap resistance, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.3260 (horizontal pullback support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastics (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastics (89,5,3) is also approaching resistance and we might see a corresponding 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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