Tickmill
Long

USDCAD approaching support, potential bounce!

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is approaching our first support at 1.3224 (23.6%, 76.4% fibonacci retracement , 100% fiboancci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.3381 (horizontal swing high resistance, 76.4% fiboancci retracement, 100% Fibonacci extension ).
Stochastic (21,5,3) is approaching support and we might see a corresponding rise 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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