easyMarkets
Long

USDCAD approaching support, potential bounce!

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is approaching our first support level at 1.3052 (horizontal swing low support, 61.8% Fibonacci extension , 38.2% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3208 (horizontal pullback resistance, 50% Fibonacci retracement ).
Stochastic (55,5,3) is also approaching support where we might see a corresponding bounce in price.
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