Title
USDCAD H4 | Reacting off resistance level?

Type
Bearish Reversal

Preference:
Price has just reacted off our pivot point of 1.36905, which serves as a swing-high resistance level. A reversal from this point could lead the price to drop to the 1st support at 1.36319, a pullback support level.

Alternative scenario:
However, if the price breaks above the pivot, it might rise to the 1st resistance at 1.3778, which aligns with the 127.2% Fibo extension

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