#USDCAD approaching our Pivot, potential for a drop.

2021년 7월 13일

Price is approaching pivot point at 1.24444 which is in line with 50.0% Fibonacci retracement level, 61.8% Fibonacci extension levelhorizontal overlap support. A break and close below this level could see a price swing towards 1st support at 1.23661.This level is in line with 100% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 1.24997, which coincides with 38.2% Fibonacci retracement level & horizontal swing high resistance . This is further supported by

Pivot:
1.24444

Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci extension levelhorizontal overlap support

1st Support:
1.23661
100% Fibonacci extension level, 78.6% Fibonacci retracement level & horizontal swing low support

1st Resistance:
1.24997
38.2% Fibonacci retracement level & horizontal swing high resistance
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