Title
USDCAD H4 | Falling to overlap support

Type
Bullish Bounce

Preference:

Price is falling towards the pivot point of 1.35019 which is an overlap support and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 1.35937 which is an overlap resistance level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 1.3431 which is a pullback support that aligns close to the 78.6% Fibonacci retracement level.

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