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USDCAD made a bearish exit, potential to drop further!

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
ICmarkets Broker  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadshort usdcadlong Forex forexsignals Bitcoin (Cryptocurrency)
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadshort usdcadlong forex forexsignals bitcoin
USDCAD made a bearish exit from its ascending channel where it has the potential to drop further to its 1st support at 1.2795 (38.2% Fibonacci retracement, horizontal overlap resistance) or to its 2nd support at 1.2739 (100% Fibonacci extension, horizontal overlap support, channel exit potential). We have identified resistances at 1.2965 (horizontal pullback resistance), 1.3051 (horizontal overlap resistance) and 1.3161 (61.8% Fibonacci extension, 100% Fibonacci extension, horizontal pullback resistance).
RSI (89, 5, 3) shows a bearish exit which contributes to our bearish bias.
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