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USDCAD, H4 I Potential Bullish Rise

31094 usdcad h4 i potential bullish rise

Type: Bullish BounceKey Levels:Resistance: 1.27888Pivot: 1.26951Support: 1.26543Preferred Case:With prices moving above the Ichimoku cloud, we see the potential for a bounce from our pivot at 1.26951 in line with horizontal overlap support and 23.6% Fibonacci retracement towards our 1st resistance at 1.27888 in line with horizontal swing high resistance and 61.8% Fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.26543, in line with 50% Fibonacci retracement and horizontal overlap support.

Source: Tickmill

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