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FX.co ★ USDCAD, H4 | Falling to 1st supportl?

USDCAD, H4 | Falling to 1st supportl?

USDCAD, H4 | Falling to 1st supportl?

Currently, the USD/CAD pair exhibits a slight bearish momentum, hinting at a possible continuation of this trend towards the 1st support at 1.3208. This key level is an overlap support reinforced by a 78.60% Fibonacci projection. The 2nd support, at 1.3131, is another overlap support strengthened by a 141.40% Fibonacci extension. On the upside, resistances lie at 1.3269 (an overlap resistance) and 1.3300 (a pullback resistance), where the pair could encounter barriers to further ascent.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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