USDCAD approaching resistance, potential drop!

2018년 7월 27일

USDCAD is approaching our first resistance at 1.3067 (horizontal overlap resistance, 23.6% Fibonacci retracement) and a strong reaction might occur below this level pushing price down to our major support at 1.2960 (horizontal swing low support, 38.2%, 50% Fibonacci retracement, 100% fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
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