Title
USDCAD H4 | Bullish bounce off overlap support

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 1.36075 which is an overlap support that aligns with the 100.0% Fibonacci projection level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.36901 which is a multi-swing-high resistance that aligns close to the 61.8% Fibonacci retracement level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 1.35685 which is a pullback support that aligns close to the 61.8% Fibonacci retracement level.

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