USDCAD, H4 | Potential Bearish Drop

usdcad,-h4-|-potential-bearish-drop

Type: Bearish ReversalKey Levels:Resistance: 1.27021Pivot: 1.25985Support: 1.24267Preferred Case:With price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support of 1.24267 in line with the swing low support from our pivot of 1.25985 in line with the pullback resistance and 38.2% Fibonacci retracement.Alternative Scenario:Alternatively, price may rise to our 1st resistance of 1.27021 in line with the 61.8% Fibonacci retracement.

Source: Tickmill

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