The USD/CAD pair is exhibiting a bearish trend, suggesting potential movement towards the 1st support level at 1.3270, a key point due to its status as a pullback support and the 50% Fibonacci retracement level. If broken, the 2nd support at 1.3253, a multi-swing low support, could act as a floor. If the trend reverses and the price rises, the 1st resistance level at 1.3377, a swing high resistance, could pose a challenge. A breakthrough here might face the 2nd resistance at 1.3447, an overlap resistance that could hamper bullish momentum.
The material has been provided by InstaForex Company – www.instaforex.com
The USD/CAD pair is exhibiting a bearish trend, suggesting potential movement towards the 1st support level at 1.3270, a key point due to its status as a pullback support and the 50% Fibonacci retracement level. If broken, the 2nd support at 1.3253, a multi-swing low support, could act as a floor. If the trend reverses and the price rises, the 1st resistance level at 1.3377, a swing high resistance, could pose a challenge. A breakthrough here might face the 2nd resistance at 1.3447, an overlap resistance that could hamper bullish momentum.
The material has been provided by InstaForex Company – www.instaforex.com
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