FX.co ★ USDCAD facing bearish pressure, potential downside!

USDCAD is currently approaching the swing high resistance in line with the 100% Fibonacci extension and the 38.2% Fibonacci retracement . We can expect price to reverse off this level and take support at the horizontal swing low which is in line with 61.8% Fibonacci extension and 61.8% Fibonacci retracement . Our bearish bias is further supported by how price is holding below the Ichimoku cloud .