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FX.co ★ USDCAD, H4 | Bounce off support level?

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Forex Analysis:::2023-08-24T05:04:23

USDCAD, H4 | Bounce off support level?

USDCAD, H4 | Bounce off support level?

The USD/CAD chart is bullish. There's a potential for the price to rebound from the 1st support at 1.3502, an overlap support aligned with the 23.60% Fibonacci retracement, and aim for the 1st resistance at 1.3593, a swing-high resistance. The 2nd support at 1.3387 aligns with the 50.00% Fibonacci retracement and is another overlap support. The 2nd resistance at 1.3650 is a multiple swing-high resistance.

Analyst InstaForex
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