FX.co ★ USDCAD retesting 1st resistance, further drop expected !

USDCAD is going up to retest our 1st resistance and might reverse further from there towards 1st support where the horizontal pullback support is. EMA(89) is also showing signs of bearishness.

Trading Recommendation

Entry: 1.3324

Reason for Entry:

38.2% fib retracement

Take Profit: 1.3242

61.8% fib retracement

Stop Loss: 1.3381

Reason for Stop Loss:

76.4% fib retracement, horizontal pullback resistance