ICmarkets

USDCAD Approaching Resistance, Potential Reversal

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is approaching its resistance at 1.3282 (61.8% Fibonacci extension, 61.8%, Fibonacci retracement, Horizontal swing high resistance) where it may reverse down to its support at 1.3234 (Horizontal swing low suppor).
Stochastic (55, 5, 3) is approaching its resistance at 93% where a corresponding reversal may occur.

IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.