USDCAD is approaching our first resistance at 1.3404 (horizontal overlap resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.3342 (horizontal pullback support, potential 61.8% Fibonacci retracement). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.