FX.co ★ USD/CAD dropping perfectly, watch for the break of key support

The price has dropped perfectly from our selling area and is now testing major support at 1.2490 (Fibonacci retracement, horizontal overlap support). We would only sell if the price drops and closes below this major level. If it does, then the momentum should push the price down to at least 1.2382 support before 1.2270 (Fibonacci extension, horizontal swing low support).

Stochastic (89,5,3) is seeing a nice reversal from 97% with good downside potential.

Sell below 1.2490. Stop loss at 1.2561. Take profit at 1.2270.