USDCAD testing resistance, lookout for reversal!

28 พ.ค. 2018

USDCAD is testing our first resistance at 1.2986 (horizontal swing high resistance, 100% Fibonacci extension 78.6% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our first support at 1.2896 (horizontal pullback support, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and a reaction off this level might be a good precursor for a potential drop in price.
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