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

USD/CAD bounced nicely off its support at 1.3470 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support, channel support) where it could potentially bounce to its resistance at 1.3562 (50% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is bounced off its support at 1.9% where a corresponding rise could occur.

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

Buy above 1.3470. Stop loss at 1.3408. Take profit at 1.3562.