FX.co ★ USDCAD holding above ascending trendline support! Bounce incoming!

Price holding above ascending trendline support. A further push up above 1st support at 1.26547 towards recent swing high and 1st resistance at 1.27238 could be possible. RSI also reacting above supports where price bounced in the past.

Trading Recommendation

Entry: 1.26547

Reason for Entry:

61.8% Fibonacci retracement, ascending trendline support

Take Profit: 1.27238

Reason for Take Profit:

Recent swing high

Stop Loss: 1.26388

Reason for Stop Loss:

Recent swing low