USDCAD facing bullish pressure | 26th July 2021

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.

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