USDCAD facing bearish pressure, potential for more downside!
Prices are facing a bearish pressure from descending trendline and 1st resistance which coincides with 61.8% fibonacci retracement and 78.6% fibonacci extension. Prices might push down towards 1st support which is in line with 61.8% fibonacci retracement. If prices push higher past 1st resistance, it might reach 2nd resistance which is in line with 78.6% fibonacci retracement. Stochastics is also facing bearish pressure from 87.10 level.
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