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

Price continues to rest above the ascending trendline at 1.25567 in line with 61.8% Fibonacci retracement and 161.8% Fibonacci extension . Price is likely to rise to the 1st resistance at 1.27816 which is in line with the horizontal swing high and the 61.8% Fibonacci extension . Our bullish bias is further reinforced by how the stochastic is seen to be approaching and likely to bounce up from a hidden support level.