The USD/CAD chart is showing signs of a potential bearish reversal, with significant support and resistance levels in play.
Resistance Levels:
At 1.35788, the 1st resistance level is characterized as "Pullback resistance." This level signifies a zone where selling pressure may emerge, potentially hindering upward momentum. Additionally, the 2nd resistance level at 1.35280 is identified as "An Overlap resistance," reinforcing its role as a significant resistance zone.
Support Levels:
On the support side, the 1st support level at 1.34893 is labeled as "Swing low support." This level implies a potential area where buying interest may emerge, serving as a crucial support zone. Similarly, the 2nd support level at 1.34304 is characterized as "Swing low support," reinforcing its potential to provide support to the price.
