#USDCAD approaching pivot, potential for rise!

Description
Price has broken above our pivot level at 1.23747 which is in line with 38.2% Fibonacci retracement level & horizontal overlap support . We could potentially see a further rise from here towards 1.24041, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance. Finally, we can expect price to take support at 1.23555, which coincides with 50.0% Fibonacci retracement levelhorizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.

Pivot:
1.23747
Why we like it:
38.2% Fibonacci retracement level & horizontal overlap support

1st Support:
1.23555
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing low support

1st Resistance:
1.24041
Why we like it:
76.4% Fibonacci retracement levelhorizontal overlap resistance

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