FX.co ★ USDCAD bounced from ascending trendline support, potential for a further rise!

Price holding above ascending trendline support and moving average. A further push up above 1st support at 1.31260 towards 1st resistance at 1.32393 is expected.

Trading Recommendation

Entry: 1.31260

Reason for Entry:

Ascending trendline support, 61.8% Fibonacci retracement

Take Profit: 1.32393

Reason for Take Profit:

Horizontal swing high

Stop Loss: 1.30864

Reason for Stop Loss:

76.4% Fibonacci retracement