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USDCAD testing major resistance, potential upcoming reversal!

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Tickmill Broker  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadshort usdcadlong usdcadforecast usdcaddaily usdcadsell usdcadbuy
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadshort usdcadlong usdcadforecast usdcaddaily usdcadsell usdcadbuy
USDCAD is testing major resistance at 1.2755 (Fibonacci extension, Fibonacci retracement, horizontal overlap resistance, fake bullish exit) and a strong reaction could occur from here to push price down to 1.2448 support (Fibonacci retracement, horizontal swing low support).

Stochastic (34,5,3) is reacting nicely off our 95% resistance with good downside potential.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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