#USDCAD, H4 is reversing from our Pivot, potential for a rise.

Description:
Price is reversing our Pivot point at 1.23740, which is in line with 50%, 78.6% fibonacci retracement and horizontal graphical overlap. We could potentially see price rise from here towards our 1st resistance level at 1.25505, in line with -27%, -27% fibonacci retracement horizontal graphical swing high. Do note that price is above the Ichimoku cloud, in line with our bullish analysis.


Pivot: 1.23740
Why we like it:
50%, 78.6% fibonacci retracement and horizontal graphical overlap

1st Support: 1.23104
Why we like it:
127%, 78.6% fibonacci retracement and horizontal graphical area

1st Resistance: 1.25505
Why we like it:
-27%, -27% fibonacci retracement horizontal graphical swing high

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