FX.co ★ USDCAD, H4 | Approaching overlap support at 38.2% Fibo?

The USD/CAD chart currently shows a weak bearish momentum, indicating a potential downward trend towards the 38.2% Fibonacci retracement support level. The 1st support at 1.3502 is identified as an overlap support that aligns with the 38.20% Fibonacci retracement level. Additionally, the 2nd support at 1.3445 is also identified as an overlap support that aligns with the 61.80% Fibonacci retracement level.

To the upside, the 1st resistance at 1.3568 is identified as an overlap resistance that aligns close to the 61.80% Fibonacci projection level. Furthermore, the 2nd resistance at 1.3650 is a multiple swing-high that aligns with the 78.60% Fibonacci projection level