USD/CAD Testing Resistance, Prepare For Reversal

USD/CAD Testing Resistance, Prepare For Reversal

USD/CAD is testing its resistance at 1.3115 (100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 1.3064 (23.6% Fibonacci retracement, horizontal overlap support) is expected.

Stochastic (55, 5, 3) has reversed off its resistance at 96% where a corresponding drop is expected.

USD/CAD is testing its resistance where we expect to see a reversal.

Sell below 1.3115. Stop loss at 1.3143. Take profit at 1.3064.

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