USDCAD is approaching support, potential bounce

٢٩ ديسمبر ٢٠٢٠

USDCAD is approaching our support level at 1.27909 in line with our 61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support, where we could see a potential bounce towards our first resistance target. Stochastic is approaching support as well where we could see a bounce above this level.