USDCAD, H4 | Potential Bounced off from 1st support??
April 4, 2023 6:22 am
The USD/CAD chart indicates a bullish bias with a potential bounce off the 1st support level towards the 1st resistance level. The 1st support level at 1.3427 coincides with a strong overlap support level and a 78.60% Fibonacci retracement, while the 1st resistance level at 1.3518 is another strong overlap resistance level. The chart’s overall momentum is bullish, but a break of the 1st support level could lead to a drop to the 2nd support level at 1.3277.
The material has been provided by InstaForex Company – www.instaforex.com
The USD/CAD chart indicates a bullish bias with a potential bounce off the 1st support level towards the 1st resistance level. The 1st support level at 1.3427 coincides with a strong overlap support level and a 78.60% Fibonacci retracement, while the 1st resistance level at 1.3518 is another strong overlap resistance level. The chart’s overall momentum is bullish, but a break of the 1st support level could lead to a drop to the 2nd support level at 1.3277.
The material has been provided by InstaForex Company – www.instaforex.com
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