USDCAD is testing our Pivot, potential for a rise.

Description:
Price is testing our Pivot point at 1.27019, which is in line with 61.8%, 127% Fibonacci retracement and horizontal graphical overlap. We could potentially see price rise towards our 1st resistance level at 1.27650, a fibonacci confluence. It is worth noting that price is trending above the moving average, in line with our bullish analysis.


Pivot: 1.27019
Why we like it:
61.8%, 127% Fibonacci retracement and horizontal graphical overlap

1st Support: 1.26462
Why we like it:
38.2% Fibonacci retracement and 78.6% fibonacci extension

1st Resistance: 1.27650
Why we like it:
78.6%, 161.8% Fibonacci retracement and horizontal graphical overlap.

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