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U.S. Dollar / Canadian Dollar
Long

USDCAD approaching support, potential for a bounce!

By ICmarkets
Broker
USDCAD is approaching its support area between 1.2788 (38.2% Fibonacci retracement ) and 1.2760 (100% Fibonacci extension ) where a bounce could occur, causing price to potentially rise to its 1st resistance at 1.3002 (horizontal swing high resistance). We have also identified another support level at 1.2720 (50% Fibonacci retracement , 76.4% Fibonacci retracement , 38.2% Fibonacci retracement ).
Stochastic (34, 5, 3) shows its approaching its support at 1.66% where a corresponding reaction could occur.
Bitcoin (Cryptocurrency)BTCUSDCADChart PatternsForexforextradingHarmonic PatternsTrend AnalysisUSDUSDCADusdcadlongusdcadshort
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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