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USDCAD H4 | Potential For A Rise

37453 usdcad h4 potential for a rise

Type: Bullish BounceKey Levels:Resistance: 1.26644Pivot: 1.5541Support: 1.24303Preferred Case:With price moving above the Ichimoku cloud, we have a bullish bias that price will rise to our 1st resistance at 1.26644 in line with the 50% Fibonacci retracement and the swing high resistance from our pivot at 1.5541 in line with the 50% Fibonacci retracement and horizontal pullback support.Alternative Scenario:Alternatively, price may break pivot and head for 1st support at 1.24303 in line with the swing low support.

Source: Tickmill

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