USDCAD approaching resistance, potential drop!

30 thg 8, 2018

USDCAD is approaching our first resistance at 1.2960 (horizontal pullback resistance, 23.6% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.2858 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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