USDCAD, H4 I Potential Rise


Type: Bullish BounceKey Levels:Resistance: 1.27905Pivot: 1.27067Support: 1.26655Preferred Case:With price moving within the ascending channel, we have a bullish bias that price will rise to our 1st resistance at 1.27905 which is in line with horizontal swing high resistance and 78.6% Fibonacci retracement from pivot at 1.27067, which is in line with horizontal swing low support and 78.6% Fibonacci retracement level.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 1.26655, which coincides with horizontal swing low support and the 78.6% Fibonacci retracement level..

Source: Tickmill

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