USDCAD approaching pivot, potential for a drop.

Price is facing bearish pressure as it continues to hold below the moving average resistance in line with our analysis. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.25471. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.26686.

Pivot: 1.26284
Supporting Points:
38.2% Fibonacci retracement, 38.2%, 127.2% Fibonacci extension and graphical swing high resistance

1st Support: 1.25471
Supporting Points:
-27.2% Fibonacci retracement and 76.4% Fibonacci extension

1st Resistance: 1.26686
Supporting Points:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and graphical pullback resistance

Trading FX & CFDs carries high risk.