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ICmarkets
Sep 13, 2018 3:26 AM

USDCAD Approaching Support, Potential For A Bounce Long

U.S. Dollar/Canadian DollarFXCM

Description

USDCAD is approaching its support at 1.2966(61.8% Fibonacci extension x3, 76.4% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.3039 (23.6% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 2.7% where a corresponding bounce could occur.
Comments
ciapicarpulch1988
Thanks for the great analysis once again!
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