USD/CAD approaching support, potential bounce!

USD/CAD approaching support, potential bounce!

USD/CAD is approaching our first support at 1.3241 (horizontal pullback support, 61.8% Fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce to our major resistance level at 1.3347 (50% Fibonacci retracement) might occur. Stochastic (89,5,3) is also nearing support where we might see a bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment, so please ensure you fully understand the risks.

About the Author

Leave a Reply