EURCAD approaching support, potential bounce!

FX:EURCAD   Euro / Canadian Dollar
EURCAD is approaching our first support at 1.5082 (horizontal swing low support , 76.4%, 61.8% fiboancci retracement, 100% fibonacci extenison) and a strong drop might occur below this level pushing price down to our major support at 1.5296 (horizontal swing high resistance, 38.2% fibonacic retracement).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks
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This analysis is provided as general market commentary and does not constitute investment advice.


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