FX.co ★ USDCAD reacting above ascending trendline support! Bounce incoming!

USDCAD reacting above ascending trendline support. A short term bounce above our 1st support at 1.25554 towards graphical swing high and 1st resistance at 1.25894 could be possible. Price is also holding above moving average support.

Trading Recommendation

Entry: 1.25554

Reason for Entry:

61% Fibonacci retracement, ascending trendline support

Take Profit: 1.25894

Reason for Take Profit:

Graphical swing high resistance

Stop Loss: 1.25326

Reason for Stop Loss:

Graphical swing low support