USDCAD showed a bounce from our Pivot, potential for a rise.

Description:
Price has shown a bounce from our Pivot point at 1.28123, which is in line with 127%, 61.8% Fibonacci retracement, 127% Fibonacci extension and horizontal graphical overlap. We could potentially see price rise towards our 1st resistance level at 1.29201. It is worth noting that price is trending above the ascending trendline, Ichimoku cloud and MACD is above the 0 line, in line with our bullish view.


Pivot: 1.28123
Why we like it:
127%, 61.8% Fibonacci retracement, 127% Fibonacci extension and horizontal graphical overlap

1st Support: 1.27646
Why we like it:
100% Fibonacci extension, 50%, -27% fibonacci retracement and horizontal graphical overlap

1st Resistance: 1.29201
Why we like it:
-61.8%, -27%, 127%, 241% Fibonacci retracement, 100% and 61.8% fibonacci extension.

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