USDCAD approaching resistance, potential for drop!
USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off our resistance we might see a further 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.
Stochastic (89,5,3) is reacting off our resistance we might see a further 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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