USDCAD Approaching support, potential bounce!
USDCAD is approaching our first support at 1.2961 (horizontal swing low support, 100% Fibonacci extension, 50%, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3069 (horizontal overlap resistance, 38.2%, 23.6% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Stochastic (89,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.