#USDCAD approaching pivot, potential for a drop!

Price is reacting below our pivot level at 1.25809 which is in line with 23.6% Fibonacci retracement levelhorizontal pullback resistance. Price can potentially take support at 1.249, which is in line with horizontal swing low support, 100% Fibonacci extension level. Alternatively, price may rise up to our resistance at 1.26371, which coincides with horizontal swing high resistance . This is further supported by how MACD is holding below the 0 line.

Pivot:
1.25809
Why we like it:
23.6% Fibonacci retracement level horizontal pullback resistance

1st Support:
1.24900
Why we like it:
horizontal swing low support, 100% Fibonacci extension level

1st Resistance:
1.26371
Why we like it:
horizontal swing high resistance

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