USDCAD approaching resistance, potential for drop!

25 มิ.ย. 2018

USDCAD is approaching our first resistance at 1.3384 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 1.3011 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is reacting off our resistance we might see a further corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.