FX.co ★ USD/CAD Bounced Off Support, Prepare For A Further Rise

USD/CAD bounced nicely off its support level at 1.2969 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance level at 1.3010 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is bounced off its support level at 3.5% where a corresponding rise could occur.

USD/CAD bounced nicely off its support level where we expect to see a further rise.

Buy above 1.2969. Stop loss at 1.2937. Take profit at 1.3010.