FX.co ★ USD/CAD has broken major support, prepare for a big drop

The price has broken our ascending support line triggering a bearish exit. We look to sell below major resistance at 1.2974 (Fibonacci retracement, pullback resistance) for a drop towards major support at 1.2731 (Fibonacci retracement, horizontal overlap support).

RSI (55) has made a similar bearish exit and pullback to its ascending support-turned-resistance line signaling that a further drop is likely.

Sell below 1.2974. Stop loss at 1.3052. Take profit at 1.2731.