USDCAD facing bullish pressure, potential for more upside!
USDCAD is facing bullish pressure as prices broke out from descending trendline resistance and is taking from first support which is a horizontal swing low support which coincides with 127.2% fibonacci retracement. Prices might bounce to 1st resistance which coincides with 50% fibonacci retracement and 50% fibonacci extension. If prices fall through support, it might pull back to second support which coincides with 61.8% fibonacci retracement and -27.2% fibonacci retracement. Stochastics is also taking support on the 6.02 level, looking like a bounce.
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