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USDCAD facing bullish pressure, potential for more upside!

Oleh Tickmill
Broker
Prices are facing bullish pressure from horizontal swing low support which is in line with 100% FIbonacci extension and 78.6% Fibonacci retracement. Prices might push up to 1st resistance which is a horizontal swing high resistance in line with 127.2% FIbonacci retracement and 100% Fibonacci extension. If prices push down further, prices might take support from swing low support in line with 50% FIbonacci extension and 61.8% FIbonacci retracement. Stochastics is also approaching 4.18 level, potential for bounce.
CADChart PatternsHarmonic PatternsTrend AnalysisUSDusdcadlong
Tickmill
Broker
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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