USDCAD approaching resistance, potential drop!
Price is approaching our first resistance at 1.3221 (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 1.3051 (horizontal pullback support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
RSI (55) is also approaching our resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also approaching our resistance and we might see a corresponding drop in price should it react off this level.
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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