USDCAD facing bullish pressure, potential for more upside!

23 apr 2021

Prices are facing bullish pressure from ascending trendline support, which coincides with horizontal swing low support in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push up towards 1st resistance in line with horizontal swing high resistance, in line with 161.8% Fibonacci extension and 100% Fibonacci extension. If prices fall through 1st support, prices might take support on 2nd support, in line with 127.2% Fibonacci retracement and 78.6% Fibonacci extension. Stochastics is also approaching a 10.23 support level, with potential for a bounce.