USDCAD is facing bearish pressure, potential for further downside!



Price is facing bearish pressure from our first resistance in line with our horizontal swing high resistance, 78.6% fibonacci retracement and 78.6% fibonacci extension where we could see a drop below this to our first support target.


Trading Recommendation Entry:

1.2790

Reason for Entry:

horizontal swing high resistance, 78.6% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1.2745

23.6% fibonacci retracement

Stop Loss: 1.2832

Reason for Stop Loss:

horizontal swing high resistance

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.