FX.co ★ USDCAD facing bullish pressure, potential for upside pressure!

Price is facing bullish pressure as it continues to hold above the moving average support. We could potentially see further upside above 1st support, in line with 50% Fibonacci retracement, 100% Fibonacci extension and horizontal overlap support, towards 1st resistance, in line with 61.8% Fibonacci extension and horizontal swing high resistance.

Trading Recommendation

Entry: 1.25115

Reason for Entry:

50% Fibonacci retracement, 100% Fibonacci extension and horizontal overlap support

Take Profit: 1.25905

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.24490

Reason for Stop Loss:

78.6% Fibonacci retracement and horizontal swing low support