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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