FX.co ★ USD/CAD Approaching Resistance, Prepare For A Reversal

USD/CAD is approaching its resistance at 1.3067 (61.8% Fibonacci extension x4, horizontal swing high resistance) where we expect to see a reversal, causing the price to fall to its support at 1.2862 (38.2% Fibonacci retracement, horizontal swing low).

Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.

Sell below 1.3067. Stop loss 1.3147. Take profit at 1.2862.