USDCAD approaching support, potential bounce!

2018年8月23日

USDCAD is approaching our first support at 1.2957 (horizontal swing low support, 61.8% Fibonacci extension, 61.8%, 50% Fibonacci retracement, long term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3091 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and seeing a bullish divergence where we might see a corresponding rise in price should it bounce off this level.
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