USDCAD approaching support, potential bounce!

USDCAD is approaching our first support at 1.3064 (horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3266 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
CADChart PatternsForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSDUSDCADusdcadlongusdcadshort

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