USDCAD facing bullish pressure | 27th July 2021

Price is currently resting on the horizontal pullback support at 0.125390 which is in line with the 161.8% Fibonacci extension and the 50% Fibonacci retracement. We can expect the price to rise up to the 1st resistance which is in line with the horizontal swing high and 127.2% Fibonacci extension level. Our bullish bias is further reinforced by how price is approaching and appears to be bouncing off a hidden support level at 9.37.

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