USDCAD is testing major resistance, potential for a big drop!

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USDCAD is now testing major resistance at 1.2910 (Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price all the way down to 1.2628 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).

Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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