USDCAD approaching resistance, potential reversal!
USDCAD is approaching its resistance at 1.2920 (100% Fibonacci extension, 100% Fibonacci extension, swing high resistance) and could potentially fall to its 1st support at 1.2703 (61.8% Fibonacci extension, 100% Fibonacci extension, 23.6% Fibonacci retracement, Horizontal pullback support). If it breaks past this level there may be potential to fall further to its 2nd support at 1.2614 (100% Fibonacci extension, 38.2% Fibonacci retracement level, swing low support).
Stochastic (89, 5, 3) has approached its resistance at 96.9% where a corresponding reversal could occur.
Stochastic (89, 5, 3) has approached its resistance at 96.9% where a corresponding reversal could occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.