easyMarkets
Long

USDCAD approaching support, potential bounce!

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is approaching our first support at 1.3378 (horizontal pullback support, 61.8%, Fibonacci extension , 23.6% Fibonacci retracement ) where a strong bounce might occur above this level to our major resistance at 1.3520 (76.4% Fibonacci retracement ).
Ichimoku cloud is also showing signs of bullish pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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