Title
USDCAD H4 | Running into resistance?

Type
Bearish Reversal

Preference:

Price is rising towards the pivot point of 1.33867 which is a swing-high resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.33019 which is a pullback support.

Alternative scenario:

If price breaks above the pivot point, it could hit the 1st resistance at 1.34678 which is resistance that aligns with the 127.2% Fibonacci extension level.
 
Additionally, the Relative Strength Index (RSI) is displaying bearish divergence versus the price, suggesting a potential reversal in the near future..

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