USDCAD facing bearish pressure, potential for more downside!

6 באפר׳ 2021

Prices are facing bearish pressure from 1st resistance which is in line with 50% Fibonacci extension and horizontal swing high resistance. Prices might push down more towards 1st support which is in line with 127.2% Fibonacci extension and 78.6% Fibonacci retracement. If prices push higher, prices might face resistance from 2nd resistance which is in line with 61.8% FIbonacci retracement and 127.2% Fibonacci retracement. EMA is also above prices, showing a bearish pressure on prices.