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FX.co ★ USD/CAD approaching a key support, potential for a bounce!

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Forex Analysis:::2019-05-10T01:57:11

USD/CAD approaching a key support, potential for a bounce!

Price is approaching a key support at 1.3424 where it could potentially bounce to its resistance at 1.3455.

Entry : 1.3424

Why it's good : horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 1.34030

Why it's good : horizontal swing low support, 78.6% Fibonacci retracement

Take Profit : 1.3455

Why it's good : 38.2% Fibonacci retracement, horizontal pullback resistance

USD/CAD approaching a key support, potential for a bounce!

Analyst InstaForex
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