USDCAD approaching support, potential bounce!
Price is approaching our first support at 1.3056 (horizontal pullback support, 61.8% Fibonacci extension, 23.6%, 38.2% Fibonacci retracement, short term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3261 (horizontal pullback resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise 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 also seeing a bullish divergence and is bouncing off our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Feragatname
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