USDCAD is approaching our Pivot point, potential for a drop

Price is currently heading towards our Pivot point at 1.29702, which is in line with 78.6% and 23.8% Fibonacci retracement. We could potentially see price drop towards our 1st support level at 1.29290. It is worth noting that the Ichimoku cloud and descending trendline are showing bearish pressure. Trading FX & CFDs carries high risk.