FX.co ★ USDCAD reversing from 1st resistance , further drop !

Price is facing bearish pressure from our 1st resistance, where we could see a further drop towards 1st support. RSI is also indicating hidden bearish divergence.

Trading Recommendation

Entry: 1.3216

Reason for Entry:

Bearishness below 1st resistance, hidden bearish divergence

Take Profit :1.3188

Reason for Take Profit: Horizontal pullback support

Stop Loss: 1.3234

Reason for Stop loss:

76.4% fib retracement