Tickmill

USDCAD approaching resistance, potential drop!

Singkat
FX:USDCAD   Dolar A.S. / Dolar Kanada
USDCAD is approaching our first resistance at 1.3266 (Horizontal overlap resistance, 78.6% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.3142 (Horizontal overlap support, 61.8% Fibonacci retracement, 100% fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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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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