USDCAD holding above ascending trendline support. A short term intraday bounce above 1st support at 1.22627 and 61.8% Fibonacci retracement towards 1st resistance at 1.24017, also 61.8% Fibonacci retracement could be possible. Stochastic is testing support where price bounced in the past.
Trading Recommendation
Entry: 1.22627
Reason for Entry:
61.8% Fibonacci retracement, ascending trendline resistance
Take Profit: 1.24017
Reason for Take Profit:
61.8% Fibonacci retracement, Graphical swing high resistance
Stop Loss: 1.22040
Reason for Stop Loss:
Graphical swing low support
