FX:USDCAD   U.S. Dollar / Canadian Dollar
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tp at trendline134160

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Nice idea on USDCAD and there may be bullish bias as you have you have identified. For our set up, we have identified the key resistance and support levels for the short term. The first support that we have identified is at 1.3332 support level(100% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support). Stochastic has bounced off its support at 1.5% where a corresponding bounce could occur. If a bounce does occur, we may look at the 1.3385 resistance level (61.8% Fibonacci retracement, horizontal swing high resistance).

Please have a look at our idea and share with us what you think.


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