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USDCAD testing major resistance, potential upcoming reversal!
USDCAD is testing major resistance at 1.2755 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance, fake bullish exit) and a strong reaction could occur from here to push price down to 1.2448 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is reacting nicely off our 95% resistance with good downside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,5,3) is reacting nicely off our 95% resistance with good downside potential.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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