USDCAD made a bearish exit, potential to drop further!
USDCAD made a bearish exit from its ascending channel where it has the potential to drop further to its 1st support at 1.2795 (38.2% Fibonacci retracement, horizontal overlap resistance) or to its 2nd support at 1.2739 (100% Fibonacci extension, horizontal overlap support, channel exit potential). We have identified resistances at 1.2965 (horizontal pullback resistance), 1.3051 (horizontal overlap resistance) and 1.3161 (61.8% Fibonacci extension, 100% Fibonacci extension, horizontal pullback resistance).
RSI (89, 5, 3) shows a bearish exit which contributes to our bearish bias.
RSI (89, 5, 3) shows a bearish exit which contributes to our bearish bias.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.