#USDCAD, H4 is testing our Pivot, potential for a rise.

Description:
Price is testing our Pivot point at 1.21215, which is in line with 78.6% fibonacci retracement,61.8% fibonacci extension and horizontal graphical area. We could potentially see price rise from here towards our 1st resistance level at 1.21786, in line with -27% fibonacci retracement, 127% fibonacci extension and horizontal swing high resistance. It is worth noting that the MACD is above 0, in line with our bullish analysis.


Pivot: 1.21215
Why we like it:
78.6% fibonacci retracement,61.8% fibonacci extension and horizontal graphical area

1st Support: 1.20709
Why we like it:
50% and 78.6% fibonacci retracement.

1st Resistance: 1.21786
Why we like it:
-27% fibonacci retracement, 127% fibonacci extension and horizontal swing high resistance

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