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USDCAD rising strongly, approaching strong resistance!

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USA-dollar/Kanadensisk dollar (FX:USDCAD)  
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FX:USDCAD   USA-dollar/Kanadensisk dollar
Trend Analysis Harmonic Patterns Chart Patterns USDCAD USD CAD usdcadlong usdcadshort usdcadforecast usdcaddaily usdcadsell usdcadbuy
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trendanalysis harmonicpatterns chartpattern usdcad usd cad usdcadlong usdcadshort usdcadforecast usdcaddaily usdcadsell usdcadbuy
USDCAD is rising strongly and approaching major resistance at 1.2910 (Multiple Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down all the way to 1.2628 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

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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