#USDCAD is at pivot, potential for a drop!
Price is testing our pivot level at 1.25390 which is in line with 50% Fibonacci retracement level and descending trendline resistance. Price could potentially drops towards support at 1.24580 which is in line with 78.6% Fibonacci retracement level and 127.2% Fibonacci extension .
Alternatively, price may swing towards resistance at 1.25800, which coincides with 78.6% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
1.25390
Why we like it:
50% Fibonacci retracement level and descending trendline resistance
1st Support:
1.24580
78.6% Fibonacci retracement level and 127.2% Fibonacci extension
1st Resistance:
1.25800
8.6% Fibonacci retracement level and 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may swing towards resistance at 1.25800, which coincides with 78.6% Fibonacci retracement level and 78.6% Fibonacci extension level.
Pivot:
1.25390
Why we like it:
50% Fibonacci retracement level and descending trendline resistance
1st Support:
1.24580
78.6% Fibonacci retracement level and 127.2% Fibonacci extension
1st Resistance:
1.25800
8.6% Fibonacci retracement level and 78.6% Fibonacci extension level
Trading FX & CFDs carries high risk.
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.
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.