USDCAD approaching support, potential bounce!

Panjang

Dolar A.S. / Dolar Kanada (FX:USDCAD)

FX:USDCAD Dolar A.S. / Dolar Kanada

trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals

USDCAD is approaching our support at 1.2743 (Horizontal overlap support, 61.8% Fibonacci extension). A strong bounce might occur at this level, pushing price up to our major resistance at 1.3122 (horizontal swing high resistance).

Stochastic (55,5,3) is also approaching our major support and a we might see a corresponding rise in price should it bounce off this level.

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