USDCAD approaching resistance, potential drop

USDCAD is approaching our first resistance at 1.3121 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 78.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.2966 (100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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