USDCAD is facing bearish pressure from its 1st resistance at 1.26143, in line with 78.6% fib retracement, 100% fibonacci extension and horizontal swing high resistance. We could see a further drop below this level towards 1st support where the 61.8% fibonacci extension and horizontal swing low support is. Ichimoku cloud is also suggesting that prices could drop.
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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