FX.co ★ USDCAD continues to face bullish pressure on the H4

Price continues holding above the ascending trendline and is currently testing the support at 1.24426 which is in line with the horizontal overlap resistance and 74.6% Fibonacci retracement. We can expect price to rise up to the horizontal swing high at 1.28081 which is in line with the 100% FIbonacci extension. Our bullish bias is further supported by how the stochastic is shown to be resisting off the hidden support at 6.74.