USDCAD facing bearish pressure, potential for more downside!

21 באפר׳ 2021

Prices are facing bearish pressure from 1st resistance from horizontal swing high resistance which is in line with 161.8% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down towards 1st support which is in line with horizontal pullback support which is in line with 127.2% Fibonacci extension and 61.8% Fibonacci retracement. If prices push up higher, prices might take resistance from horizontal swing high resistance which coincides with 127.2% Fibonacci retracement and 161.8% Fibonacci extension. Stochastics is facing resistance from 87.95 level, potential for push down in prices.