USDCAD facing bearish pressure, potential for more downside!

20 thg 4, 2021

Prices are facing bearish pressure from descending trend line resistance, horizontal pullback resistance which is in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Prices might push down further towards 1st support which is a horizontal swing low support which is in line with -27.2% Fibonacci retracement and 100% Fibonacci extension. If prices push up and break the descending trendline resistance, prices might face resistance from 2nd resistance in line with 100% Fibonacci extension and 50% Fibonacci retracement. Ichimoku cloud is also above prices, showing bearish pressure for prices.