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EURCAD approaching resistance, potential drop!

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FX:EURCAD   Euro / Kanadensisk dollar
Price is approaching our first resistance at 1.5321 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 1.5173 (horizontal swing low support, 61.8%, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our resistance and a reaction below this level might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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