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USDCAD facing bearish pressure, potential for more downside!

Oleh Tickmill
Broker
USDCAD is facing bearish pressure from horizontal swing high resistance in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards 1st support which coincides with -27.2% Fibonacci retracement and 78.6% FIbonacci extension. If prices push up, prices might face resistance from horizontal pullback resistance in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Ichimoku cloud is above prices, showing a bearish pressure for prices.
CADChart PatternsHarmonic PatternsTrend AnalysisUSDusdcadshort
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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