USDCAD approaching resistance, potential drop!

USDCAD is approaching our first resistance at 1.2944 (horizontal swing high resistance) and a strong reaction might occur below this level, pushing price down to our major support at 1.2817 (horizontal overlap support, 23.6% Fibonacci retracement).
Stochastic (89) is also approaching major resistance and a reaction off that level might be a good precursor for a potential drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.