USDCAD approaching support, potential bounce!

Panjang

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

FX:USDCAD Dolar A.S. / Dolar Kanada

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USDCAD is approaching our first support at 1.3070 (horizontal overlap support, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, short term ascending support line) and a strong bounce might occur below this level pushing price up to our major resistance at 1.3334 (horizontal swing high resistance, 61.8% Fibonacci extension, 78.6% Fibonacci retracement).
Stochastic (34,5,3) is also approaching its support where we might see a corresponding rise in price should it bounce off this level.
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