USDCAD is facing bearish pressure from our first resistance, in line with our 61.8% fibonacci retracement and horizontal pullback resistance, where we could see a further drop to our first support target where the 61.8% fib extension is. Stochastics is also signaling that price could reverse upon reaching the resistance level at 93.28.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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