USDCAD facing bullish pressure, potential for more upside!
Prices are facing bullish pressure from ascending trendline support, which coincides with horizontal swing low support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up towards 1st resistance in line with horizontal swing high resistance, in line with 161.8% Fibonacci extension and 100% Fibonacci extension. If prices fall through 1st support, prices might take support on 2nd support, in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. Stochastics is also approaching a 10.23 support level, with potential for a bounce.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results