Title
USDCAD H4 | Approaching pullback support?

Type
Bullish Bounce

Preference:

Price is falling towards the pivot point of 1.35011 which is an overlap support that aligns close to the 23.6% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35866 which is a pullback resistance that aligns with the 61.8% Fibonacci projection level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 1.34479 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level.

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