FX.co ★ USDCAD holding above ascending trendline support! Further bounce incoming!

USDCAD holding above ascending trendline support, a further push up above our 1st support at 1.26013 towards graphical overlap resistance, 1st resistance at 1.26590 could be possible. Stochastic is testing support where price bounced in the past as well.

Trading Recommendation

Entry: 1.26013

Reason for Entry: 88% Fibonacci retracement, ascending trendline support

Take Profit: 1.26590

Reason for Take Profit: 50% Fibonacci retracement, graphical overlap resistance

Stop Loss: 1.25788

Reason for Stop Loss: -27.2% Fibonacci retracement, Graphical swing low