USDCAD approaching support, potential bounce!

USDCAD approaching support, potential bounce!


USDCAD is approaching our first support at 1.2959 (horizontal overlap support, 76.4% Fibonacci retracement, 100% Fibonacci extension). A bounce might occur above this level pushing price up to our major resistance at 1.3015 (61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.



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