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USDCAD Approaching Support, Potential Bounce!

Oleh ICmarkets
Broker
USDCAD is approaching its support at 1.3122 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce off and rise to its resistance at 1.3267 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance).
We do have to be cautious of the intermediate resistance at 1.3208 (61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic ( 55, 5, 3) is approaching its support at 2.06% where a corresponding rise could occur.
CADChart PatternsForexforexsignalsHarmonic PatternsTrend AnalysisUSDUSDCADusdcadlong
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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