FX.co ★ USDCAD is facing bullish pressure, potential for further upside!

Price is facing bullish pressure from our first support in line with our horizontal pullback support, 61.8% fibonacci retracement and 78.6% fibonacci extension where we could see a bounce above this to our first resistance target.

Trading Recommendation

Entry:1.2704

Reason for Entry:

horizontal pullback support, 61.8% fibonacci retracement and 78.6% fibonacci extension

Take Profit: 1.2793

78.6% fibonacci retracement and 78.6% fibonacci extension

Stop Loss: 1.2629

Reason for Stop Loss:

horizontal swing low support