Klimex

USDCAD Approaching Resistance, Potential Reversal

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is approaching its resistance at 1.3796 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance, ascending channel resistance) where it could potentially reverse to its support at 1.3421 (61.8% Fibonacci extension, 23.6% Fibonacci retracement , horizontal overlap support).

Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
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.