USDCAD facing bearish pressure, potential for more downside!

10 thg 5, 2021

USDCAD is facing bearish pressure from horizontal swing high resistance in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards 1st support which coincides with -27.2% Fibonacci retracement and 78.6% FIbonacci extension. If prices push up, prices might face resistance from horizontal pullback resistance in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension. Ichimoku cloud is above prices, showing a bearish pressure for prices.