USDCAD approaching support, potential for a bounce!

2018年3月12日

USDCAD is approaching its support area between 1.2788 (38.2% Fibonacci retracement ) and 1.2760 (100% Fibonacci extension ) where a bounce could occur, causing price to potentially rise to its 1st resistance at 1.3002 (horizontal swing high resistance). We have also identified another support level at 1.2720 (50% Fibonacci retracement , 76.4% Fibonacci retracement , 38.2% Fibonacci retracement ).
Stochastic (34, 5, 3) shows its approaching its support at 1.66% where a corresponding reaction could occur.